Buwembo & Company Advocates

Full-service Ugandan law firm offering expert legal solutions in litigation, dispute resolution, corporate law & advisory. Kampala | [phone]

[Buwembo & Company Advocates @BC_Advocates]

💡 Key Takeaway: Being part of the same corporate family creates efficiencies, but compliance responsibilities remain in place. Group-wide reliance works best when supported by oversight AML controls

📖 Legal Basis: Section 6(21) of the Anti-Money Laundering Act, Cap. 118

[Buwembo & Company Advocates @BC_Advocates]

🏢 Investment Advisory Series – Day 2

❓ Can a lender rely on KYC carried out by another entity within the same financial group?

✅ Yes.

[Buwembo & Company Advocates @BC_Advocates]

However, group membership alone is not enough.

⚠️ Lenders must assess and mitigate any heightened risks arising from the jurisdiction or country in which the affiliated entity operates.

[Buwembo & Company Advocates @BC_Advocates]

If your gatekeepers aren't compliant, neither are you.

📖 Legal Basis: Section 6(20)(c) of the Anti-Money Laundering Act, Cap. 118 and the Data Protection and Privacy Act, Cap. 97.

[Buwembo & Company Advocates @BC_Advocates]

🚀 Investment Advisory Series – Day 2

❓ Can a lender partner with any KYC provider?

The answer is no.

[Buwembo & Company Advocates @BC_Advocates]

📂 Customer records must be securely retained for 10 years, while the disposal and deletion of personal data must comply with Uganda's data protection and privacy laws.

⚠️ Key Takeaway: Ensure a provider meets both AML compliance standards and data privacy obligations.

[Buwembo & Company Advocates @BC_Advocates]

📖 Legal Basis: Section 6(20)(b) of the Anti-Money Laundering Act, Cap. 118.

[Buwembo & Company Advocates @BC_Advocates]

🚀 Investment Advisory Series – Day 1

❓ Did you know that third-party KYC providers are legally required to provide customer verification records without delay?

[Buwembo & Company Advocates @BC_Advocates]

⚖️ Why does this matter?
Delays in accessing customer records can expose lenders to regulatory risk and undermine AML compliance obligations.

✅ Key Takeaway: When partnering with a KYC provider, speed is not merely a service standard—it is a legal requirement.

[Buwembo & Company Advocates @BC_Advocates]

📖 Legal Basis: Section 6(20) of the Anti-Money Laundering Act Cap. 118.

[Buwembo & Company Advocates @BC_Advocates]

Investment Advisory Series – Day 1

Can You Outsource Your KYC?

✅ The answer is YES.

Uganda's regulatory framework allows Supervised Financial Institutions (SFIs) to rely on third-party providers to conduct Customer Due Diligence (CDD).

[Buwembo & Company Advocates @BC_Advocates]

⚠️ However, even where a third party conducts the KYC process, the lender retains ultimate responsibility for ensuring customer verification at all times.

Key Takeaway: Outsourcing KYC does not mean outsourcing accountability.

[Buwembo & Company Advocates @BC_Advocates]

Buwembo & Co. Advocates is pleased to introduce the Investment Advisory Series, a thought leadership initiative by our Investment Advisory Department that will run for the next sixty days.

Join us as we explore the legal frameworks driving innovation and safeguarding consumers.

[Buwembo & Company Advocates @BC_Advocates]

As Uganda’s digital economy continues to expand, digital lending platforms and technology-driven financial services are reshaping access to credit and financial inclusion.

[Buwembo & Company Advocates @BC_Advocates]

@EyeZack13 @thomsonreuters @htuhairwe Congratulations Counsel Isaac. This is such a significant achievement, being published in the Computer and Telecommunications Law Review is no small feat. Your insights on regulating social media in Uganda are timely and much needed.

[Ssebulime Isaac @EyeZack13]

Humbled to share that my article, “The Regulation of Social Media and Its Effects on Mainstream Media: Adequacy of the Uganda Communications Act”, will appear in the next issue (6th) of the Computer & Telecommunications Law Review (CTLR) by @thomsonreuters !

[Buwembo & Company Advocates @BC_Advocates]

The program brings together global experts from USA, Kenya, Botswana, & Uganda to enhance courtroom advocacy through practical, skills-based training.

📍 Commercial Court, Kampala 📅 28 July – 1 August 2025
#LegalTraining #TrialAdvocacy #ProfessionalDevelopment #UgandaLawSociety

[Buwembo & Company Advocates @BC_Advocates]

We are proud to have Counsel Catherine Katushabe representing us at the 2025 Trial Advocacy Skills Training organized by @UgandaLawSoc in partnership with Justice Advocacy Uganda.