Legal And Institutional Structures For Combating Money Laundering In Uganda: A Critical Evaluation Of The Problem, The Challenges And The Way Forward

This study critically appraises the legal and institutional infrastructure for combating money laundering in Uganda, with the view of assessing the lacunas in the law and challenges facing the institutional mechanism. The major objective of the study is to evaluate the adequacy of the law and the capacity of the relevant institutions to fight money laundering in Uganda. The study attempts to address four main questions. The first is, whether the absence of a comprehensive law makes it unlikely that the legal and institutional framework in its present form can sufficiently combat money laundering? Secondly, whether, unless addressed, money laundering in Uganda will increase and infect all institutions? Thirdly, whether money laundering can be controlled and prevented at an entirely domestic level? Lastly, whether the lack of awareness and lack of sensitisation perpetuates the money laundering problem? The study gives the background, antecedents of money laundering in Uganda, including an insight into the common sources of laundered proceeds. The study also examines the scale of money laundering from a domestic and international perspective. The study outlines the various consequences of money laundering on the social, political and economic life of a country. The study makes a critical assessment of the law and relevant institutions, examining the adequacy and relevance of the laws and the capacity of the institutions in fighting money laundering. The study also examines the challenges facing the enforcement and implementation of various anti-money laundering measures in Uganda. Lastly, the study outlines various recommendations to address the money laundering phenomenon and create a viable anti-money laundering regime in Uganda. In reaching these tecommendations, the study assesses what is lacking in the law and what should be done