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FATF: Anti-Corruption Bureau Prioritises Money Laundering Cases

FATF: Anti-Corruption Bureau Prioritises Money Laundering Cases

With a renewed focus on money laundering cases, the Central Office for Combating Corruption (GCCC) is stepping up its investigations, in a strategic move to remove the country from the “grey list” of the Financial Action Task Force (FATF), according to information published by the newspaper Noticias.

The report points out that although corruption, in all its breadth, is not neglected, there is a concentrated effort to ensure that money laundering cases receive a more in-depth and careful analysis, resulting in the prosecution and referral of those involved to the courts, whenever sufficient evidence is found.

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This dedication to detail, clarification and prosecution of money laundering cases – terminology also applied to money laundering – represents the GCCC’s active participation in the fulfilment of the country’s reform promises, aimed at abandoning the aforementioned “grey list”.

Recently, the FATF recognised Mozambique’s significant progress in the fight against money laundering and terrorist financing, a development that reflects the implementation of a series of recommendations proposed by the organisation.

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Among the actions undertaken, the country’s commitment to allocating resources and prioritising the necessary procedures to implement the established plan stands out.

Mozambique had set a target of 22 March this year for the submission of its fourth evaluation report, a document that details the state of compliance with the FATF’s recommendations, while at the same time stressing the importance of training courses to highlight the relevance of this new mechanism.

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The FATF gave Mozambique two years from October 2022 to improve its structures for preventing and combating money laundering and terrorist financing.

With a hopeful outlook for the future, the deputy director-general of Mozambique’s Financial Information Office, Luís Cezerilo, expressed optimism about the possibility of Mozambique being excluded from the “grey list” by June this year.

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