Mozambique has already submitted its first assessment report to the Financial Action Task Force (FATF), as part of the steps the country is taking to get off the “grey list”, a source from the Ministry of Economy and Finance (MEF) said.
The information was submitted specifically to the International Cooperation and Review Group (ICRG), an entity that brings together experts who monitor the progress of countries in matters related to money laundering and terrorist financing, and as part of the process Mozambique is required to report within an established plan.
According to the source, on 7 April the ICRG will produce its assessment on Mozambique’s performance since the country was placed under surveillance by the Financial Action Task Force in October last year.
In order to get off the grey list, Mozambique must, among others, carry out a national risk assessment by 2024 for non-governmental organisations, install a system to identify the beneficial owner and develop national and international cooperation actions regarding money laundering, money laundering and counter-terrorism.
The United States of America, the European Union and the World Bank are supporting Mozambique to get off the list in the next two years.
O Económico
