Angola: When the Party Enters the Bank

Luanda — Angola’s continued placement under enhanced monitoring by the Financial Action Task Force (FATF) has once again exposed deep structural weaknesses in the country’s banking system.

More than the existence of laws, what is at stake is Angola’s ability to demonstrate, in practice, an effective separation between political power, bank ownership, and financial supervision. The high concentration of politically exposed persons (PEPs) within the financial system — often concealed…