The Mozambican government has authorised the integration of the Mozambican Financial Intelligence Office (GIFiM) as a full member of the Egmont Group, an international network that brings together Financial Intelligence Units (FIUs) from around the world, with the aim of strengthening the fight against money laundering and terrorist financing.
The information was announced by the Attorney General, Américo Letela, during the presentation of the Attorney General’s annual report to the Assembly of the Republic. According to the magistrate, Mozambique currently has observer status with the Egmont Group, and formal membership is expected to take place in June this year.
‘GIFiM membership will provide access to a secure international platform for the exchange of financial intelligence, as well as promoting the continuous development of our unit’s operational capabilities,’ explained Américo Letela.
Joining the Egmont Group will place Mozambique among the 177 countries that make up this network, which is responsible for international cooperation in the fight against financial crime, in accordance with global standards for the prevention and combating of money laundering and terrorist financing (AML/CFT).
In 2024, GIFiM submitted 68 financial intelligence reports to the Attorney General’s Office, of which 49 led to criminal proceedings, 19 for money laundering and 30 for terrorist financing.
In addition, 81 reports were received from financial and non-financial institutions, under their duty to refrain from suspicious transactions, which resulted in the opening of 75 cases related to money laundering.
The most frequently reported indications relate to the use of large amounts of cash through split transactions which, taken together, do not match the financial profile of the customers, raising suspicions as to the origin of the funds.
According to PGR data, 191 cases of money laundering were recorded in 2024, a significant reduction compared to the 519 cases recorded in the previous year, representing a decrease of 63.2%. Of these, 42 cases were concluded, with 16 formal charges and 26 dismissals.
The full integration of GIFiM into the Egmont Group is also seen as an important step towards consolidating Mozambique’s efforts to comply with the recommendations of the Financial Action Task Force (FATF) and strengthen mechanisms for prevention, transparency and international cooperation on financial crime.
Source: Egmont Group
