iCognative: Combatting Angola Banking Money Laundering Risk

June 18, 2024
Angola Banking Money Laundering Risk


Angola’s central bank recently identified a high risk of money laundering within its banking sector. This revelation comes as Angola, one of Africa’s top oil producers, strives to avoid inclusion on the Financial Action Task Force’s (FATF) watchlist. South Africa was added to this list in February 2023 for related concerns.



Angola’s central bank assessment marks a critical step in recognizing and combating financial crimes within its borders. Angola is actively enhancing its financial regulatory framework to address and mitigate the identified risks of money laundering and terrorist financing. This proactive approach aims to align with international standards and avoid the reputational damage associated with the FATF’s grey list.



iCognative technology by Brainwave Science offers a groundbreaking method for enhancing investigations related to financial crimes in Angola’s banking sector. This technology measures brain responses, known as P300-MERMER, when subjects encounter stimuli related to specific knowledge or involvement in criminal activities.

The implementation of iCognative could significantly bolster Angola’s efforts to combat money laundering and terrorist financing. This technology will help Angola meet FATF standards and improve the integrity of its financial sector.

Source: Brainwave Science