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Mozambique Takes Measures to Prevent Financing of Terrorism and Proliferation of Weapons of Mass Destruction

Maputo, Mozambique - The Banco de Moçambique has launched a series of measures to prevent the financing of terrorism and proliferation of weapons of mass destruction in the country. These measures aim to ensure that financial institutions and non-financial entities are not used for illegal activities.

Measures Implemented by the Banco de Moçambique

  • All financial and non-financial institutions must freeze economic assets and resources of individuals and groups designated by the United Nations Sanctions Committee within 24 hours of receiving notice.
  • Risk and compliance managers are urged to be aware of the list published on the website of the Mozambique Financial Information Office (GIFiM) and report any suspicious transactions to GIFiM within 24 hours.
  • The Banco de Moçambique has initiated a sectoral risk assessment of money laundering, terrorism financing, and proliferation of weapons of mass destruction.

Guidelines and Reporting Requirements

  • Financial institutions are required to report biannually on customer accounts and transactions involving risks of money laundering, terrorism financing, and proliferation of weapons of mass destruction.
  • The Banco de Moçambique has published guidelines on anti-money laundering and countering the financing of terrorism and proliferation of weapons of mass destruction.

Virtual Meeting with Supervised Financial Institutions

The central bank conducted a virtual meeting with supervised financial institutions to present preliminary results of the sectoral risk assessment. The goal is to ensure that all obliged institutions comply with legislation on anti-money laundering, countering the financing of terrorism, and proliferation of weapons of mass destruction.

Quote from Banco de Moçambique

“We want to ensure that our financial system is not used for illegal activities,” said a spokesperson for the Banco de Moçambique. “We urge all financial institutions and non-financial entities to be aware of their responsibilities under the law and to report any suspicious transactions.”

  • Mozambique Financial Information Office (GIFiM)
  • Lists of persons and institutions designated by the United Nations Sanctions Committee (terrorism and its financing)
  • FATF Guidance on Counter Proliferation Financing
  • Law No. 3/2024, of March 22 - Amends the AML/CFTP Act
  • Law No. 14/2023, of August 28 - AML/CFTP Act
  • Law No. 15/2023, of August 28 - Terrorism Countering and Suppression Act
  • Decree No. 53/2023, of August 31 - Regulation of the AML/CFTP Law
  • Notice No. 5/GBM/2022, of November 17 - AML/CFTP guidelines

Recent Reports

  • Mozambique Mutual Evaluation Report
  • National Risk Assessment Report
  • Report of the National Terrorism Financing Risk Assessment and National Counter-Terrorism Financing Strategy, 2024-2029