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Grey List: Mozambique Works to Improve Financial Integrity in Light of FATF Recommendations

Grey List: Mozambique Works to Improve Financial Integrity in Light of FATF Recommendations

Mozambique’s Executive Coordination Committee, in partnership with the Global Mechanism, has been carrying out training on statistics in Maputo since 26 February until 1 March, with the aim of improving the country’s financial integrity in the face of the Financial Action Task Force (FATF) recommendations.

According to Further Africa, this initiative aims to provide stakeholders with the necessary skills to strengthen the statistical system so that it is robust and aligned with the international standards defined by the International Cooperation Review Group (ICRG).

“The training is aimed at various organisations, including the Tax Authority, the Public Prosecutor’s Office, the Criminal Investigation Service, the Financial Intelligence Unit, the National Civil Aviation Authority and the Ministry of the Interior,” he said.

According to the portal, by improving statistical analysis capabilities, Mozambique will be strengthening its measures to combat money laundering and terrorist financing, demonstrating its commitment to financial transparency and regulatory compliance.

“Through interactive sessions and practical exercises, participants will gain proficiency in data interpretation, trend analysis and risk assessment methodologies adapted to law enforcement needs. This collaborative effort underlines the country’s dedication to building institutional capacity and fostering partnerships to effectively combat financial crime,” reads the portal.

Recently, the Council of Ministers approved a decree-law aimed at facilitating the compulsory registration of ‘beneficial ownership’, as a way of increasing levels of financial transparency and combating money laundering in Mozambique.

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