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Mozambique Intensifies Efforts to Combat Terrorism and Financing of Weapons Proliferation

Maputo, Mozambique - The Banco de Moçambique (BM) has taken significant steps to combat terrorism and the financing of weapons proliferation, as outlined in recent legislation and guidelines.

Specially Designated Nationals List

The BM has published a Specially Designated Nationals List, which includes individuals and groups suspected of engaging in terrorist activities or supporting weapons proliferation. Financial institutions are required to freeze economic assets and resources linked to these entities within 24 hours upon notice.

• Risk and compliance managers, suspicious transaction reporting officers, and the Mozambican Banking Association are urged to be aware of the list and report any information on customers who may be connected to these entities.
• The BM has established procedures for reporting suspicious transactions related to money laundering, terrorism financing, and weapons proliferation.

Suspicious Transaction Reporting Mechanisms

The BM has established electronic procedures for reporting suspicious transactions related to money laundering, terrorism financing, and weapons proliferation. Institutions must report such transactions in a timely manner to ensure effective monitoring and control.

Biannual Risk Reporting

Financial institutions are required to submit biannual risk reports to the BM on customer accounts and transactions that pose risks of money laundering, terrorism financing, and weapons proliferation. This information will aid in risk-based supervision and help prevent financial institutions from being misused for illicit activities.

Sectoral Risk Assessment

The BM has completed a sectoral risk assessment of money laundering, terrorism financing, and weapons proliferation, as mandated by law. The assessment aimed to identify vulnerabilities and develop strategies to mitigate risks.

• A virtual meeting was held with supervised institutions in March 2024 to present preliminary results of the assessment.
• The findings will inform future regulatory actions and guidance for financial institutions.

Documentation

The BM has published various documents related to anti-money laundering (AML) and countering the financing of terrorism (CFT), including laws, decrees, notices, and reports. These materials provide important information on AML/CFT requirements, risk assessment, and sectoral reporting.

Useful Links

For further information and resources on combating terrorism and weapons proliferation, please visit:

• Mozambique Financial Information Office
• Lists of persons and institutions designated by the United Nations Sanctions Committee (terrorism and its financing)
• FATF Guidance on Counter Proliferation Financing

Contact Us

Questions and comments related to AML/CFT requirements and sectoral reporting can be directed to [DSP_AML_CFT@bancomoc.mz](mailto: DSP_AML_CFT@bancomoc.mz).

The BM remains committed to ensuring compliance with AML/CFT regulations and preventing the misuse of financial institutions for illicit activities.