Government Creates Committee To Remove Mozambique From Financial “Grey List”
Maputo, 23 Jan (AIM) – The Mozambican Government, in coordination with the European Union and the World Bank, has set up a working committee to remove the country from the “grey list’, announced by the Financial Action Task Force (FATF) for presenting weaknesses in the fight against money laundering and financing of terrorism.
According to the Minister of Economy and Finance, Max Tonela, several actions have been undertaken with the objective of removing the country from the list as soon as possible.
“With the formalisation of the Technical Assistance Committee, it is intended to establish a coordination platform with partners in order to ensure capitalisation of the resources made available”, Tonela said, adding that “the Government approved a Strategy for the Removal of Mozambique from the “grey list” (2022 – 2024) in December last year, accompanied by a plan of activities for the implementation of the measures proposed by FATF.”
For his part, Antonino Maggiore, European Union Ambassador to Mozambique, welcomed the creation of the working group arguing that it will be crucial to pull the country out of the position it is currently in.
“You will not be alone in this race. The international community is willing and ready to support you. Let me assure you of our commitment to work together with all Mozambican institutions and with your partners”, he said.
According to the National Risk Assessment Report (2020-2021), the risk of money laundering in Mozambique is mainly influenced by informality and payment in cash to purchase vehicles.