Mozambique has already complied with 25 out of 26 FATF recommendations

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Mozambique has already complied with 25 out of 26 FATF recommendations

2:55 CAT | 13 Feb 2025

Photo: O País

The Executive Committee for the Coordination of Policies to Prevent and Combat Money Laundering and Terrorism says that Mozambique has already complied with 25 of the 26 recommendations of the Financial Action Task Force (FATF), which has placed the country on its ‘grey list’. The national director of the body has pledged to respond to the last point by 7 March, the date set for the submission of the final report to the FATF.

Mozambique has until 7 March to submit the report detailing the country’s commitment to implementing the 26 FATF recommendations, which step may result in its removal from the grey list.

The FATF requires that the areas of activity of 6,000 existing NGOs be categorised and the level of risk of money laundering determined. Awareness-raising activities must also be carried out, which activity Cezerilo says is already underway.

The next step will be the visit by FATF evaluators in June.

Cezerino argues that, in addition to complying with the FATF recommendations, Mozambique must continue its efforts to develop a robust financial system free from money laundering and the financing of terrorism and weapons of mass destruction.

Source: O País