On June 10, 2025, the European Union updated its list of high-risk jurisdictions for the prevention of money laundering and terrorist financing, officially including Angola. This decision, based on the analyses of the Financial Action Task Force (FATF), imposes immediate and profound consequences on the reputation and functionality of the Angolan financial system.
Angola's inclusion on this list highlights structural weaknesses in the national mechanisms for combating financial crime. From now on, all banking institutions in the European Union are obliged to apply enhanced due diligence measures in transactions with Angolan counterparties. This implies increased scrutiny, additional documentary verification requirements, rigorous analysis of the origin of funds and a significant increase in operational costs.
The signal from the European Union translates, in practice, into a generalized perception of risk and regulatory vulnerability in the national banking system.
Real Impacts for the Angolan Banking Sector
The impact is not only symbolic. For Angolan banks, inclusion on this list entails tangible repercussions that, if not properly managed, may compromise their viability and international insertion:
- Loss of credibility with correspondent banks and international financial institutions.
- Additional obstacles in international transfers and cross-border operations.
- Difficulties in accessing external financing, investments and global compensation mechanisms.
- Additional requirements in auditing, compliance and risk management processes.
The crucial role of banks: how to proceed
Faced with this scenario, Angolan banks must adopt an active, technical and coordinated stance. The moment demands immediate action and institutional responsibility. These are the main recommended measures:
1. Strengthening compliance programs
It is urgent to review and update internal control systems, especially Know Your Customer (KYC) procedures, mechanisms for identifying suspicious transactions and the monitoring of complex or opaque corporate structures.
2. Independent audits and risk assessment
Institutions should conduct periodic internal and external audits focused on identifying operational and compliance weaknesses. The preparation of risk assessment reports is essential to support sound action plans.
3. Continuous technical training
Continuous training of staff - especially compliance, internal control and audit teams - is essential. Content should include FATF international standards, risk analysis practices and alert management.
4. Strategic alignment with the National Bank of Angola.
The National Bank of Angola (BNA) should be the guiding axis of this transformation, promoting technical guidance, strengthened supervision and rigorous oversight. Banks should actively collaborate with the BNA in the development of corrective measures.
5. Transparent communication with the outside world
Angolan banks should develop communication strategies aimed at their international partners, demonstrating their commitment to the required reforms. External certification of compliance systems can be a useful tool to regain confidence.
Guidance for companies with commercial relations between Angola and the European Union.
With the inclusion of Angola on the European Union's list of high-risk jurisdictions, it is essential for companies - both European companies with operations in Angola and Angolan companies with interests or partners in European markets - to readjust their compliance and international relations strategies.
European companies with business ties to Angola must first review their internal regulatory risk mapping, updating the country's classification in their compliance matrices. With the new designation imposed by the EU, they are obliged to apply enhanced due diligence measures in transactions with Angolan partners. This involves conducting a detailed documentary analysis, verifying the legality of the origin of funds and monitoring in real time any financial movement to or from Angola.
In addition to the reinforcement of diligence, it is necessary to reevaluate contracts, partnership agreements and corporate structures where Angolan participation is involved. The inclusion of specific integrity, ethics and reporting clauses has become a technical and reputational requirement. Equally important is direct and transparent communication with local partners: requesting compliance reports, demonstrating concern for good practices and building institutional trust are fundamental steps in this new scenario.
In this context, it is prudent to consult legal and technical advisors specialized in European regulation and international trade such as PetroShore Compliance. This advice will enable companies to prevent sanctions, restructure their commercial relations and adapt quickly to the control requirements imposed by European regulators.
On the part of Angolan companies wishing to maintain or expand their presence in Europe, an even more proactive stance is required. The priority is to align their compliance systems with international standards, implementing robust money laundering and terrorist financing prevention programs. Strengthening customer identification practices, suspicious transaction controls and verification of beneficial owners are now prerequisites for any sustainable relationship with European institutions.
Another critical point is the review of its legal and tax structure, ensuring transparency in its corporate shareholdings and compliance with reporting requirements. Obtaining international certifications of good practices in compliance, such as ISO 37301, can represent a competitive differential and a seal of confidence before banks, clients and investors.
In addition, it is recommended to adopt an active institutional communication strategy. Informing European partners about ongoing efforts, disclosing internal integrity policies and demonstrating commitment to legality are actions that strengthen reputation and mitigate reputational risks. Working with consultants with experience in European regulation and international finance can accelerate this repositioning and open paths to overcome obstacles in banking operations, export of goods and services or access to international funds.
The new classification imposed by the European Union requires not only technical adjustments, but also a change in strategic posture on the part of companies on both sides. Rapid responsiveness, investment in compliance and institutional transparency will determine who will be able to maintain viable and sustainable long-term business relationships in a more demanding regulatory environment. Angola's inclusion on the EU's high-risk list should not be seen only as a penalty, but as a historic opportunity for restructuring. The road to rehabilitation requires political will, institutional investment and full adherence to international best practices.
The future of the Angolan financial system will depend on its ability to respond with efficiency and integrity to this challenge. The time to act is now. Count on PetroShore Compliance in your company.
