Anti-Money Laundering Law No. 80

Egypt

2002

AML/CFT

Overview

Egypt's Anti-Money Laundering Law No. 80, enacted in 2002 and amended in 2014 and 2020, forms the core of the country's framework to combat money laundering and terrorist financing. It aligns with FATF standards and establishes enforcement mechanisms for identifying, reporting, and investigating financial crimes.

The law applies to banks, exchange houses, insurance firms, real estate companies, law firms, accountants, and other regulated entities in Egypt. It mandates due diligence, transaction monitoring, reporting of suspicious activity, and regulatory oversight by the EMLCU.

Key Obligations

Establish a risk-based AML program with internal policies, controls, and procedures
Conduct customer due diligence (CDD) and identify beneficial owners
Submit suspicious transaction reports (STRs) to the EMLCU
Perform enhanced due diligence (EDD) for high-risk customers, including politically exposed persons

Retain transaction and identification records for at least five years
Prohibit anonymous or fictitious account openings
Provide regular staff training and ensure independent internal audits

FAQ

Related Regulations

AML/CFT Law No. 20 of 2021

FATF 40 AML/CFT Recommendations

Corporate Transparency Act BOI Rule

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