Financial Crime World

Mozambique Intensifies Fight Against Terrorism and Weapons of Mass Destruction

Strengthening Efforts Against Terrorist Threats and Proliferation of WMDs

The Mozambican government has introduced new measures to counter and suppress the threats of terrorism and weapons of mass destruction (WMDs). These efforts aim to strengthen the country’s response to these global security concerns.

New Measures to Counter Terrorism and WMD Proliferation

  • Financial institutions in Mozambique are now required to freeze economic assets and resources within 24 hours upon notice, as per Article 25 and 26 of Law No. 15/2023.
  • The Specially Designated Nationals List has been made available to financial institutions, which includes individuals and groups suspected of involvement in terrorism or WMD proliferation.

Suspicious Transaction Reporting Mechanisms

  • Financial institutions are required to report any suspicious transactions electronically within 24 hours, as per procedures provided by the GIFiM.
  • Biannual risk reporting on money laundering, terrorism financing, and WMD proliferation is now mandatory for financial institutions, which includes reporting information on customer accounts and transactions involving risks of these activities.

Sectoral Risk Assessment

  • The Banco de Moçambique has conducted a sectoral risk assessment of money laundering, terrorism financing, and WMD proliferation in compliance with the 40 recommendations of the Financial Action Task Force (FATF).
  • A virtual meeting was held on March 5, 2024, to present preliminary results of the sectoral risk assessment.

Compliance and Documentation

  • The government is committed to ensuring compliance with anti-money laundering and countering the financing of terrorism and WMD proliferation regulations.
  • Full documentation of the measures can be found below:
    • Legislation: Law No. 3/2024, of March 22; Law No. 14/2023, of August 28; Law No. 15/2023, of August 28; and more.
    • Reports, Policies, and Strategies: Mozambique Mutual Evaluation Report; National Risk Assessment Report; Report of the National Terrorism Financing Risk Assessment and National Counter-Terrorism Financing Strategy, 2024-2029.
    • Useful links: 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 Information

Questions and comments arising from this information can be sent to DSP_AML_CFT@bancomoc.mz.