Freezing assets may be the solution to money laundering in Mozambique

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Freezing assets may be the solution to money laundering in Mozambique

4:51 CAT | 08 Nov 2016

Confiscating or freezing assets or earnings from money laundering is the only way to prevent the perpetrators of this crime from using or enjoying them, either directly or through third parties, according to the Attorney General, who raised this issue yesterday at the opening of the seminar entitled “Using the fight against money laundering to combat corruption”.

Attorney General Beatriz Buchili argued that the success of actions to prevent and combat money laundering and corruption also depends on the way institutions treat the earnings from these crimes.

“This situation demands the ability to intervene in a timely manner and have adequate mechanisms to detect, identify, locate and recover goods or products related to criminal activity, as well as, given the international connections, relying on collaboration with foreign jurisdictions in the treatment of these matters,” she explained.

Ana Maria Gemo, Director of the Central Office for the Fight Against Corruption (GCCC), added that failing to use money laundering mechanisms allows channels for the passage of illicit funds to reamin uninterupted, which may contribute to corruption involving large sums of money not being effectively combated.

“It is common ground that in order to achieve this, the various institutions must collaborate and coordinate among themselves. Dialogue, cooperation and information sharing must be established and encouraged,” she said.

The seminar on money laundering was promoted by the Central Office to Combat Corruption, with the aim of renewing and increasing the capacity of justice administration players to prevent, investigate, prosecute and try cases of corruption through combating money laundering.

The issues in the seminar, which is orientated for prosecuting magistrates, are related to corruption; regimes for the prevention and combating of money laundering and terrorist financing; seizure, freezing and loss of property; and international cooperation.

In addition to prosecutors and judges, the event was attended by staff from institutions whose responsibilities include collaboration with the Public Prosecutor’s Office in the investigation of corruption.

Source: Noticias