It has been a big stumbling block to the country’s competitiveness. The long awaited anti-money laundering bill was finally passed by Parliament of Uganda in August 2013 and now awaits presidential assent to become law. The Anti-Money Laundering law is aimed at combating corruption, drug trafficking and terrorism financing through criminalizing money laundering activities. As one banker lamented in 2010, “Bank of Uganda, through the Financial Institutions Act 2004, has been requiring us to undertake a thorough background check on customers through know-your-customers rules, flag suspicious transactions and report them as well as categorize customers based on risk assessment on…