The Botswana Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has issued a guidance note for entities conducting virtual assets business, including virtual asset service providers (VASPs), on implementing AMLCFT programmes under the Financial Intelligence Act (FI Act). The document is intended to help regulated entities detect, prevent and report suspected financial crimes linked to virtual assets activities. Issued under Section 49 (1) (c) of the FI Act and Section 5 (2) (e) of the NBFIRA Act, the guidance sets out how the FI Act’s obligations to address money laundering, terrorism and proliferation financing (ML/TF/PF) apply to the operational features of virtual assets businesses. It also aims to raise awareness of compliance obligations and provide practical direction on meeting FI Act requirements.
Botswana Non-Bank Financial Institutions Regulatory Authority 2025-03-13
Botswana Non-Bank Financial Institutions Regulatory Authority issues AMLCFT programme guidance for virtual asset service providers
The Botswana Non-Bank Financial Institutions Regulatory Authority issued guidance for virtual asset businesses on Anti-Money Laundering and Countering the Financing of Terrorism programmes under the Financial Intelligence Act. It clarifies obligations related to money laundering, terrorism, and proliferation financing for virtual asset operations, aiming to enhance compliance and reporting of financial crimes.