Tanzania Country Profile - Asset Recovery Mechanisms

Regulations issued by the Central Bank (Bank of Tanzania, BOT) place an obligation on all financial institutions to report suspicious transactions. Currently, these regulations have no legal force, but will in the future once the new Anti-Money Laundering Bill is enacted. The pending legislation will also establish a Financial Intelligence Unit.

The authorisation process for the production of a bank statement or other financial information is by court order.

Tanzania has proceeds of crime legislation in place; the Proceeds of Crime Act, No. 25 of 1991. Confiscation is normally undertaken after conviction, however civil forfeiture is also possible.

Zanzibar makes provision for criminal forfeiture. Civil forfeiture is currently being considered under the Proceeds of Crime and Anti-Money Laundering Bills.