The final decision to remove Mozambique from the Financial Action Task Force’s (FATF) Grey List is expected to be taken in the first quarter of 2025, according to a report from the meeting on the matter that was recently released in Paris, the Agência de Informação de Moçambique reported.
According to the agency, the information was shared by the government spokesman, Filimão Suaze, during a press conference, minutes after the end of the 32nd ordinary session of the Council of Ministers, which took place on Tuesday (5) in Maputo.
‘What we brought back from Paris is satisfactory information, according to which everything we have done so far has been positively appreciated. So progress is good and we could optimistically say that everything points to good results,’ said the spokesman.
Filimão Suaze explained that the country is seriously committed to strengthening its financial system as part of a proactive approach to mitigating risks associated with money laundering and terrorist financing. ‘In this context, the government is committed to establishing a solid regulatory framework and adopting modern practices that ensure compliance with international standards,’ he said.
In June 2021, the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), a regional body similar to the FATF, established in 1999, of which Mozambique is a member, adopted and published the Mutual Evaluation Report on Mozambique, in which it identified deficiencies in terms of compliance with FATF standards, i.e. weaknesses in the country’s legal, regulatory and institutional structures in terms of the effectiveness of the money laundering regime.
