Mozambique: Money laundering laws to be revised in parliament

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Mozambique: Money laundering laws to be revised in parliament

7:36 CAT | 07 Aug 2023

File photo: TVM

Mozambique’s parliament will debate the revision of the laws on preventing and combating money laundering and terrorism in an extraordinary session convened for 10 and 11 August, according to a parliamentary statement.

The proposals to revise the Law on Preventing and Combating Money Laundering and Financing Terrorism and the Law on Preventing and Combating Terrorism and Proliferation of Weapons of Mass Destruction were submitted by Mozambique’ government in parliament and are part of the fulfilment of the obligations imposed by the Financial Action Task Force (FATF), for the country’s withdrawal from the grey list, a mechanism that assesses the capacity of states to combat money laundering and combat terrorism.

Speaking to Lusa last week, Luís Cezerilo, deputy director-general of the Mozambique Financial Intelligence Office (GIFIM), a state entity, said he hopes the country would escape sanctions on its electronic payment system, after presenting on 28 July the report containing the necessary advances to get off the international grey list.

“The possibility of having credit cards blocked is far off,” Cezerilo said.

He said he was confident that the Mozambican authorities would make “progress” in the report submitted to the FATF on 28 July.

The extraordinary session of parliament that will take place on 10 and 11 August follows another that began on 3 August and ends on Monday, and which had as its highlight a constitutional amendment that postponed the 2024 district elections.

Source: Lusa