Mozambican Prime Minister Adriano Maleiane chaired the 4th session of the high-level coordination committee for the removal of Mozambique from the Financial Action Task Force (FATF) grey list on Friday, 3 November.
According to a press release, the meeting demonstrates the country’s commitment at the highest level, and was attended by the Supreme Court, the Attorney General, the ministers of Economy and Finance, Interior, Justice, Land and Environment, as well as the deputy ministers of Energy and Mineral Resources and Foreign Affairs.
“The aim of the meeting was to share the results of the evaluation of the second progress report approved at the plenary session of the International Cooperation Review Group (ICRG) on 24 October in Paris, France,” explains the document.
According to the presentation, the FATF appreciated Mozambique’s commitment and its efforts to finalise the Action Plan, and the body encouraged the Mozambican Executive to continue with the reviews monitored by the ICRG.
Meanwhile, Mozambique still has two reports to present to the FATF next December and in April 2024.
The Financial Action Task Force’s announcement to place Mozambique on the grey list was made at the end of a plenary meeting in Paris on 21 October 2022, which brought together delegates from the 200 countries and jurisdictions that make up this international watchdog against illegal and criminal activities.
The Financial Action Task Force (FATF) has given Mozambique just two years to improve its structure for preventing and combating money laundering and terrorist financing, starting in October 2022. If it fails, it will be blocked from international financial transactions.
Since then, the government has set up the Executive Committee for the Removal of Mozambique from the Grey List, which places the country among the most prone to money laundering and terrorist financing crimes, headed by academic Luís Cezerilo.
The next FATF meeting to assess Mozambique’s progress is scheduled for 23 October 2023 in Paris.
