Mozambique's Financial Information Office (GIFiM) tracked down around one billion meticais between January 2020 and October 2023, on suspicion that the amount had been introduced into the national financial system through illicit activities. According to Notícias, bank accounts were opened in various Mozambican institutions with the same...
Sales of cars and real estate worth more than 250,000 meticais must be reported to Mozambique's Financial Information Office (GIFiM), according to the institution's Director of Legal Services, Study and Cooperation, Paulo Munguambe. This measure aims to combat money laundering and terrorist financing. The automobile...
The Ministry of Economy and Finance (MEF) will soon create an office for asset management in the fight against illegal or criminal activities. The office is intended to look after assets seized and/or recovered as part of the fight against money laundering, according to Noticias. According to the source,...
Mozambique is the sixth worst country in the world, out of 203, with a high risk of money laundering and terrorist financing, according to the International Center for Asset Recovery, cited by the Center for Public Integrity (CIP). For the CIP, this classification, which is included in the Basel AML Index, signals the country's vulnerability to...
The Portuguese Parliament recently unanimously approved the proposal to revise the Law on Preventing and Combating Money Laundering and Terrorist Financing. According to Notícias, among the new features of the law is the obligation for natural persons, legal entities without legal personality, non-profit organizations, financial institutions and non-financial entities with...
On Thursday (10), the Assembly of the Republic approved a proposal to revise the Law on Preventing and Combating Money Laundering and Terrorist Financing, which provides for fines of between two and ten million meticais, applicable to collective financial and similar entities. The fines will be between one and five million meticais in...
The Insurance Supervision Institute and the Bank of Mozambique (BM) will now carry out joint actions to prevent and combat money laundering, terrorist financing and arms proliferation. The two institutions signed a memorandum of understanding yesterday in Maputo, to be implemented by 2027. The Chairman of the Board of Directors of...
The Attorney General of the Republic (PR) will present her report on the general situation of justice in Mozambique over two days, Wednesday (19) and Thursday (20), at the Assembly of the Republic (AR) in Maputo. According to the newspaper Domingo, Beatriz Buchili will focus on the cases of companies registered in the names of Mozambican citizens...
Mozambique has just presented its first assessment report to the Financial Action Task Force (FATF), as part of the steps the country is taking to get off the "gray list", according to a source from the Ministry of Economy and Finance (MEF). The FATF is an organization that promotes international policies to combat money laundering...
Mozambique is implementing measures to get off the "gray list" of the Financial Action Task Force (FATF), which includes countries with deficiencies in the fight against money laundering, terrorist financing and the financing of weapons of mass destruction. Speaking on Thursday, in Maputo city, at the round table on democratic space in the context of...