The International Financial Action Task Force (FATF) praised Mozambique’s “strong commitment” to getting off the ‘gray list’, which includes countries with deficiencies in the fight against money laundering and terrorist financing.
“This is the fifth progress report for Mozambique. Mozambique continues to show a strong commitment to dedicating resources and prioritizing the actions needed to complete its Action Plan,” says the FATF’s fifth assessment, consulted today by Lusa.
The country has made “some important progress, with six action items having been partially updated for broad participation,” the report says.
Mozambique’s efforts, it continues, have resulted in improvements in the conduct of risk-based supervision.
“In addition, the country has made significant progress in resourcing its FIU [Financial Intelligence Unit], in its ability to strengthen its system of comprehensive statistics on the number and nature of money laundering investigations,” reads the document.
The FATF notes that the country still has to comply with six remaining activities, which have to do with supervisory entities, and the country is due to present its next report on November 24.
On October 22, 2022, Mozambique was placed on the FATF’s so-called ‘gray list’, for not having eliminated deficiencies in the fight against money laundering and terrorist financing.
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