Mozambique strengthens anti-money laundering controls

Mozambique is strengthening controls on non-financial activities exposed to money laundering, Alberto Mendonça, director of studies and international cooperation at the Mozambican Financial Intelligence Office (GIFiM), said, according to the Agência de Informação de Moçambique (AIM). The measures are intended to help the country avoid returning to the international grey list, with its next assessment scheduled for 2030.

The assessment process is expected to begin in 2028, according to Alberto Mendonça. Risk-based supervision is to replace random checks with targeted scrutiny of the entities, products, services and clients most exposed to illicit practices.

The sectors concerned include real estate, casinos, vehicle trading, legal services, auditing, accounting, and the trade in precious stones and metals. GIFiM already oversaw anti-money laundering measures in real estate and vehicle resale; it plans to strengthen these controls through more targeted methods.

A regional seminar in Maputo is bringing together regulators and supervisors from eastern and southern Africa to improve their skills in monitoring non-financial sectors. At the opening, Albertina Fruquia, permanent secretary at the Ministry of Finance, called for institutions to be equipped with tools to identify risks.