Mozambique's Financial Intelligence Office (GIFiM) is receiving thousands of reports of financial transactions suspected of being related to money laundering and terrorist financing. Of this vast array, the highlight is the violation of the so-called thresholds, which are the legal limits on withdrawals, transfers, and deposits.

Last year alone, 3,150 suspicious transactions were reported, and this year the number is likely to increase, although GIFiM has not been able to tell us the exact number of reports recorded from January this year.

According to the weekly "Domingo", there is an increasing number of national citizens making deposits in tax havens, which is confirmed to GIFiM by the financial authorities of the countries receiving the money, as part of international efforts to control suspicious financial movements.

The communications made by national financial and non-financial institutions about suspicious transactions result from the effective application of the Law for the Prevention and Combat of Money Laundering and Terrorist Financing which requires these entities to submit the information.