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Money Laundering: Mozambique Launches Training Initiative on Financial Crimes

Money Laundering: Mozambique Launches Training Initiative on Financial Crimes

Mozambique is in the process of stepping up its efforts to combat money laundering and the financing of terrorism, and to this end is implementing an intensive training programme, which began on 25 March and will run until 28 March in the city of Beira, in the centre of the country.

According to the Further Africa publication, the initiative is part of the country’s broader strategy to get off the Financial Action Task Force (FATF) grey list and its commitment to meeting global financial compliance standards.

“The meeting, which brings together police authorities, regulators and non-financial institutions seeking to improve strategies to combat financial crimes, is part of the updated legal framework, which aims to strengthen the country’s defences against terrorist financing and the proliferation of weapons of mass destruction,” the portal said.

Quoted by the media outlet, Marina Macamo, spokesperson for the Provincial Office for Combating Corruption, explained that there is a need to raise awareness in order to strengthen Mozambique’s internal capacities to combat financial crimes.

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“We need to strengthen the national financial system to prevent and combat money laundering and terrorist financing, as well as provide training on the National Risk Assessment (ANR),” he emphasised.

Macamo stressed that “this programme is a crucial step towards removing the country from the FATF grey list”, recalling that “inclusion on this list can affect international financial relations and the economic development of any nation”.

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