Featured Uganda

Where FATF crypto compliance gets interesting: Africa

Africa isn’t included on the virtual asset regulatory map just yet. But crypto businesses seeing strong growth across the 54-country continent are working hard on know-your-customer (KYC) rules to meet the exacting standards set out by the Financial Action Task Force (FATF). A broad range of entities operating in Africa,… Read More

UN Experts Show Gold Smuggling Networks From Congo to Dubai

Gold smuggling from eastern Democratic Republic of Congo is costing the impoverished country millions of dollars in tax revenue and funding conflict and criminal networks that stretch across Africa and beyond, according to a United Nations Group of Experts report. Congo’s official exports of hand-dug gold bear almost no relation… Read More

Court convicts Belgian gold refinery Tony Goetz of money laundering

Two brothers from a Belgian gold refinery have been found guilty by a court in Antwerp of money laundering and fraud and given 18-month suspended jail sentences, a court ruling showed. The judgment comes as investigators and states increase pressure on refineries to make sure illegally mined or traded gold… Read More
27th December 2019
Dyncorp International is a US military contractor which has been embroiled in controversies around the world, is controlled by a private equity firm and provides a range of military services including supplying mercenary forces. It established DynCorp Australia in 2004 and public contract data shows that its pickings from the… Read More
11th December 2019
Six years after being established to monitor, investigate, and prevent money laundering, financing of terrorism in Uganda and related activities, Uganda Financial Intelligence Authority (UFIA), is struggling to fully execute its mandate. As a result, Uganda continues to lose at least US$1b (over sh3.69 trillion) in revenue each year to… Read More
6th November 2019
While Chinese companies are feeling the pressure of anti-graft and tax evasion crackdowns at home, some are also facing similar campaigns abroad as African countries try to stamp out corrupt practices. In the past three years, a number of Chinese-owned companies have landed in trouble with investigating agencies for… Read More
5th November 2019
The trial of a US lawyer accused of laundering some of the proceeds from the OneCoin cryptocurrency “scam” has begun in New York. Mark Scott is accused of routing approximately $400m (£310m) out of the US while trying to conceal the true ownership and source of the funds. Some is… Read More
23rd August 2019
Non-governmental organizations in Uganda have been told to submit financial information including budgets and donor lists to the authorities, an official told Reuters on Thursday, in a move rights groups said was another attempt to muzzle criticism. The government of veteran leader President Yoweri Museveni, 74, has long chafed at… Read More
27th March 2019
AP — A gold refinery established by a Belgian is facing Ugandan sanctions over the questionable importation of 7.4 tons of gold earlier in March, adding to growing allegations that minerals from conflict-plagued countries pass through the Uganda-based company. The company, African Gold Refinery, had already exported 3.8 tons… Read More
20th February 2019
Uganda accused the country’s biggest telecoms operator, MTN Uganda, on Tuesday of underdeclaring its sales and causing public revenue losses, in a further souring of relations with the South African-owned company. Uganda deported MTN Uganda’s Chief Executive Wim Vanhelleputte last week, the fourth MTN official to be expelled from the… Read More
30th November 2018
AP — A key broker of the latest deal to end South Sudan’s civil war diverted European weapons to South Sudan’s military despite an EU arms embargo, a new report says. It also asks how a U.S. military jet ended up deployed in South Sudan… Read More
13th July 2018
President Yoweri Museveni has approved increased security spending for Uganda’s 456 members of parliament – including on sharpshooters and armoured escort vehicles – after a ruling party lawmaker was shot dead. Critics said the spending was wasteful and failed to address security concerns of normal citizens who fear rampant crime… Read More
26th December 2017
Bank of Uganda (BOU) has finally unfrozen bank accounts of ActionAid Uganda after nearly three months of closure. “The leadership of ActionAid Uganda is pleased to inform its partners, supporters, and staff that our quest to have our bank accounts unfrozen has been achieved following constructive discussions with some agencies… Read More