Financial Crime Investigations Take Centre Stage in Mozambique
In a bid to combat money laundering and recover stolen assets, the Basel Institute’s International Centre for Asset Recovery (ICAR) has completed its first intensive training workshop on Financial Investigations and Asset Recovery in Mozambique.
Practical Challenges Discussed
The five-day workshop brought together 23 prosecutors and investigators from key agencies, including:
- Prosecutor General’s Office
- Central Office for the Fight Against Corruption
- National Criminal Investigation Service
- Mozambique Financial Information Office (GiFIM)
During the workshop, participants engaged in lively discussions on common challenges faced when investigating and combating money laundering, including:
- Difficulties in obtaining banking information
- Freezing suspect accounts quickly enough to prevent stolen funds from being spent or transferred
- Securing evidence for use in investigations
Experts also highlighted the complexities of financial crime, which often make it challenging to identify the predicate offence giving rise to the proceeds of crime and subsequent money laundering offences. Delays in obtaining domestic and international information through mutual legal assistance further complicate these cases.
Hands-on Training and Case Simulations
The workshop’s practical exercise – a complex simulated corruption and money laundering investigation – was a key takeaway for participants. One prosecutor, who heads Mozambique’s Interdisciplinary Asset Recovery Team, praised the hands-on training:
Not only did it provide knowledge but we were able to apply the skills directly in the [simulated] case.
The simulation provided valuable experience in tracing various assets and following leads, which was particularly beneficial for investigators from the National Criminal Investigation Service.
Encouraging Inter-Agency Cooperation
The attendance of a GiFIM representative added significant value to the workshop, highlighting the importance of inter-agency networking and information-sharing. GiFIM’s access to financial data and its role in corruption and money laundering investigations make it an essential partner for investigators and prosecutors.
As ICAR Trainer Thierry Ravalomanda notes, Financial Intelligence Units play a crucial role in asset recovery, yet their contributions are often misunderstood. Greater understanding and cooperation between agencies will undoubtedly lead to greater success in recovering stolen assets for the benefit of Mozambican citizens.
Capacity Building and Mentoring Ahead
The workshop marks an important step forward in Mozambique’s efforts to combat financial crime and recover stolen assets. With more capacity building and mentoring on case work, investigators and prosecutors are better equipped to tackle complex financial crimes and bring perpetrators to justice.