Proclamation No. 657/2009
(amended through 2009)
This law pertains to the prevention and suppression of money laundering and financing of terrorism.
1. General Provisions
This section includes the title and definitions included in this proclamation
2. Information on Customers
This section provides guidelines on customer identification, the duty to disclose customer information, admissibility of the evidence, confidentiality, immunity from liability, and transactions.
3. Freezing, Seizure, and Confiscation of Assets
This section states applicable proclamations and guidelines for properties derived from foreign crimes.
4. International Cooperation
This section asserts Ethiopia’s commitment to working with other countries and recognizes foreign judicial orders as evidence for the Ethiopian court.
5. Penal Provisions
This section clarifies the offenses for which individuals may be responsible and the accompanying penalties. It also accounts for the protection of witnesses.
6. Miscellaneous Provisions
This section outlines the Financial Intelligence Center and its powers and duties. It establishes guidelines on confidentiality and immunity and grants the Center power to issue regulations and directives.
This proclamation takes precedent over other inconsistent laws.