FinTRACA Launches New Online Portal for Hawala Reports

In a significant step towards strengthening financial integrity and combating illicit activities, Financial Transactions and Reports Analysis Center of Afghanistan (FinTRACA) introduces the New Hawala Portal, a pioneering digital platform designed to revolutionize the money services business (MSP) and foreign exchange dealer (FXD) sectors. Developed in three languages, the portal ensures accessibility across the nation via computers, smartphones, and other smart gadgets, heralding a new era of transparency and accountability in financial transactions.

The introduction of this advanced portal marks a milestone in the country's efforts to adhere to Anti-Money Laundering and Proceeds of Crime (AMLPC) and other relevant regulations. By providing a centralized platform for transaction analysis, the system empowers both MSP/FXD sectors and relevant government authorities to conduct thorough assessments in accordance with Afghanistan's regulatory framework.

The implementation of the New Hawala Portal serves as a proactive measure to fortify the financial sector against exploitation by money launderers and individuals designated under UN sanctions within the nation. Through real-time monitoring and robust reporting mechanisms, the portal acts as a deterrent to illicit financial activities, safeguarding the integrity of the financial system.

To ensure seamless integration and understanding of the new system, comprehensive training sessions commenced on December 1, 2023, and successfully concluded on February 6, 2024. Over 1310 MSP Companies representatives nationwide participated in these training sessions, equipping stakeholders with the necessary knowledge and skills to effectively utilize the Hawala Portal.

Moreover, the implementation of the portal has facilitated the collection of Hawala Reports from all corners of the country, enhancing transparency and accountability within the financial sector. This influx of data enables authorities to conduct comprehensive assessments, better identifying potential risks, and take proactive measures to combat financial crimes.

The New Hawala Portal represents a significant advancement in Afghanistan's journey towards fostering a robust and compliant financial ecosystem. By leveraging technology to enhance accessibility, transparency, and regulatory compliance, the nation demonstrates its commitment to combating illicit financial activities and promoting sustainable economic development.