This is the version of this Act as it was from 1 July 2020 to 7 March 2022. Read the latest available version.
Related documents
- Is amended by Finance Act, 2020
- Is amended by Anti-Money Laundering (Amendment) Act, 2022
Tanzania
Anti-Money Laundering Act
Chapter 423
- Commenced on 1 July 2007
- [This is the version of this document as it was from 1 July 2020 to 7 March 2022.]
- [Note: The original publication document is not available and this content could not be verified.]
- [Note: This Act has been thoroughly revised and consolidated under the supervision of the Attorney General's Office, in compliance with the Laws Revision Act No. 7 of 1994, the Revised Laws and Annual Revision Act (Chapter 356 (R.L.)), and the Interpretation of Laws and General Clauses Act No. 30 of 1972. This version is up-to-date as at 31st July 2002.]
- [Amended by Finance Act, 2020 (Act 8 of 2020) on 1 July 2020]
Part I – Preliminary provisions
1. Short title
This Act may be cited as the Anti-Money Laundering Act.2. Application
3. Interpretation
In this Act, unless the context otherwise requires—"Act" means the Anti-Money Laundering Act;“arrangement” has the meaning ascribed to it under the Income Tax Act;[Cap. 332][definition of “arrangement” inserted by section 4 of Act 8 of 2020]"bank" has the meaning ascribed to it under the Banking and Financial Institutions Act;"Bank" has the meaning ascribed to it under the Bank of Tanzania Act;“beneficial owner” means a natural person—(a)who directly or indirectly ultimately owns or exercises substantial control over an entity or an arrangement;(b)who has a substantial economic interest in or receives substantial economic benefit from an entity or an arrangement directly or indirectly whether acting alone or together with other persons;(c)on whose behalf an arrangement is conducted; or(d)who exercises significant control or influence over a person or arrangement through a formal or informal agreement;[definition of “beneficial owner” inserted by section 4 of Act 8 of 2020]"cash dealer" means—(a)a person who carries on a business of an insurer, an intermediary insurance broker, a securities dealer or broker;(b)a person who carries on a business of dealing in gold bullion, or issuing, selling or redeeming traveler’s cheques, money orders or similar instruments, of collecting, holding and delivering or transmitting money;[Cap. 197](c)an operator of a gaming activity;(d)a trustee or a manager of a Collective Investment Scheme; and(e)an operator of a bureau de change;"Chairman" means the Chairman of the National Committee appointed under section 8;"Commissioner" means the Commissioner of the FIU appointed under section 5;"comparable body" means an overseas Government agency with functions similar to those of the FIU;"financial institution" has the meaning ascribed to it under the Banking and Financial Institutions Act;[Cap. 342]"forfeiture" has the meaning ascribed to it under the Proceeds of Crime Act;[Cap. 256]"Government" means the Government of the United Republic and where appropriate includes the Revolutionary Government of Zanzibar;"law enforcement agency" means the Police Force, Prevention and Combating of Corruption Bureau, Immigration Services, Tanzania Revenue Authority and any other investigative agency dealing with anti-money laundering and combating the financing of terrorism;"Minister" means the Minister for the time being responsible for monetary affairs;"money laundering" means engagement of a person or persons, direct or indirectly in conversion, transfer, concealment, disguising, use or acquisition of money or property known to be of illicit origin and in which such engagement intends to avoid the legal consequence of such action and includes offences referred in section 12;"National Committee" means the National Multi-disciplinary Committee on Anti-Money Laundering Committee established by section 8;"politically exposed person" means a foreign individual entrusted with prominent public functions including heads of state or government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations or agencies;"predicate offence" means—(a)any dealing which amounts to illicit drug trafficking under the law for the time being relating to narcotic drugs and psychotropic substances;(b)terrorism, including terrorist financing;(c)illicit arms trafficking;(d)participating in an organized criminal group and racketeering;(e)trafficking in persons and smuggling immigrants;(f)sexual exploitation, including sexual exploitation of children;(g)illicit trafficking in stolen or other goods;(h)all corruption and related offences stipulated under the Prevention and Combating of Corruption Act;[Cap. 329](i)counterfeiting of currency or goods;(j)armed robbery;(k)theft;(l)kidnapping, illegal restraint and hostage taking;(m)smuggling;(n)extortion;(o)forgery;(p)piracy;(q)hijacking;(r)offences under the Cyber Crimes Act;[Cap. 443](s)insider dealing and market manipulation;(t)illicit trafficking or dealing in human organs and tissues;(u)poaching;(v)tax evasion;(w)illegal fishing;(x)illegal mining;(y)fraud and other related offences;(z)murder;(aa)grievous bodily harm;(bb)pyramid and other similar schemes;(cc)piracy of goods;(dd)environmental crimes; or(ee)any other offences as the Minister may, by notice published in the Gazette, declare, whether committed within or outside the boundaries of the United Republic;"property" has the meaning ascribed to it under the Proceeds of Crime Act;[Cap. 256]"regulator" includes, the:(a)Bank of Tanzania;(b)Capital Markets and Securities Authority;(c)Tanzania Insurance Regulatory Authority;(d)Gaming Board of Tanzania;(e)Social Security Regulatory Authority;(f)Registrar of Cooperatives;(g)Registrar of Titles;(h)Registrar of Non-Governmental Organisations;(i)Registrar of Political Parties;(j)Energy and Water utilities Regulatory Authority;(k)Tanzania Communication Regulatory Authority;(l)Business Registration and Licensing Agency;(m)Tanzania Investment Centre;(n)Registration, Insolvency and Trusteeship Agency; and(o)any other regulatory authorities or agencies which the Minister may, by order published in the Gazette, specify;"reporting person" means—(a)banks and financial institutions;(b)cash dealer;(c)an accountant, real estate agent, dealer in precious stones work of arts or metals;(d)a regulator;(e)customs officer;(f)attorneys, notaries and other independent legal professionals when:(i)assisting clients in preparing or executing transactions involving:(aa)the purchase or sale of real property or commercial enterprises;(bb)management of funds, securities or other assets which belong to a client;(cc)the opening or management of bank accounts, saving accounts or portfolios(dd)the organisation of contributions required to create, manage or direct corporations or legal entities;(ee)the creation, management or direction of corporations orlegal entities; and(ff)the buying or selling of business entities;(ii)acting on behalf of a client in any financial or real estate transaction;(g)pension funds managers, securities market intermediaries, financial leasing entities, micro financing institutions and companies and financing housing companies;(h)auctioneers; and(i)any other person who the Minister may, by notice published in the Gazette, specify;"terrorist financing" means—(a)the provision of, or making available such financial or other related services to a terrorist, group or entity which is concerned with terrorist act;(b)entering into or facilitating directly or indirectly any financial transaction directed to a dealing in property owned or controlled by or on behalf of any terrorist or any entity owned or controlled by a terrorist; or(c)knowingly solicits support for, or rendering financial support to a terrorist, group or entity which is associated with terrorist acts.[Act Nos. 6 of 2008 s. 41; 1 of 2012 s. 3; 1 of 2013 s. 4; 14 of 2015 s. 57; Cap. 4 s. 8]Part II – The Financial Intelligence Unit and the National Committee
4. Establishment of Financial Intelligence Unit
5. Appointment of Commissioner
6. Powers and duties of FIU
7. Employees of FIU
8. Establishment and composition of National Committee
9. Functions of National Committee
The functions of the National Committee shall be to—10. Meetings of National Committee
11. Allowances and remunerations
There shall be paid to the members of the National Committee such allowances or remunerations and other payments as shall be determined by the Minister.Part III – Prohibition of money laundering
12. Offence of money laundering
A person who—13. Penalties for acts of money laundering
14. Offences by corporate bodies
Part IV – Anti-money laundering supervision
15. Reporting persons to verify customer’s identity
16. Reporting persons to establish and maintain customer records
17. Reporting persons to report suspicious transactions
18. Reporting persons to establish and maintain internal reporting procedures
A reporting person shall establish and maintain internal reporting procedures—19. Additional preventive measures by reporting persons
19A. Administrative sanctions
Where any reporting person fails to comply with the provision of section 15, 16, 17 or 18 of this Act, the FIU or regulator shall impose administrative sanctions against that person as prescribed in the regulations made under this Act.[Act No. 1 of 2012 s. 13]20. Tipping off
21. Secrecy obligation overridden
22. Protection of reporting persons, witnesses and informers
23. Obligation to report physical cross border transportation of cash or bearer negotiable instruments
23A. Regulator’s obligation
Part V – Financial provisions
24. Sources of fund
The funds of the FIU shall consist of—25. Financial year
The Financial year of the FIU shall be the period of twelve calendar months beginning on the first day of July of every year.26. Accounts and audit
Part VI – Miscellaneous provisions
27. Immunity
No action shall be taken against the FIU, the Commissioner, members of the National Committee and employees of FIU in respect of any act done or omission made by the FIU, Commissioner, members of the Committee or any employee of the FIU in good faith, in the exercise of the functions conferred on the FIU under this Act and the Criminal Procedure Act.[Cap. 20]28. Application of proceeds of crime
The procedure in relation to arrest, information gathering powers, trial, determination, confiscation, forfeiture, pecuniary penalty and restraining orders and control of property liable to confiscation, shall be in accordance with the provisions of the Proceeds of Crime Act and the Criminal Procedure Act.[Cap. 256; Cap. 20]28A. Disclosure of information
Any person who is or was engaged in the administration of this Act and discloses any information acquired by that person by virtue of his position to unauthorised person, commits an offence.[Act No. 1 of 2012 s. 19]28B. General penalty
28C. Court jurisdiction over foreigner
29. Regulations
History of this document
08 March 2022
01 July 2020 this version
Amended by
Finance Act, 2020
30 November 2019
Consolidation
Read this version
01 July 2007
Commenced
Cited documents 0
Documents citing this one 36
Judgment 36
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