Maputo, 03 Nov (AIM) – Preventing money laundering demands strengthening institutional capacities to supervise Designated Non-Financial Businesses and Professions (DNFBPs), according to the Director of Central Studies and International Cooperation at Mozambique’s Financial Intelligence Unit (GIFiM), Alberto Mendonça.
According to Mendonça, speaking on the sidelines of a regional seminar on risk-based supervision currently being held in Maputo, supervise designated non-financial businesses and professions is also crucial in order to avoid the country’s return to the Financial Action Task Force (FATF) “grey list”, officially known as “Jurisdictions under Increased Monitoring.
The “grey list” includes countries identified by the FATF as having strategic deficiencies in their measures to counter money laundering and the financing of terrorism. Countries on this list are subject to increased monitoring and scrutiny by the FATF. The list is intended to serve as a warning to the countries concerned to improve their performance and comply with international standards.
Mozambique was included on the “grey list” in 2022. However, it was removed from the list on October 2025 during a plenary session of the FATF, held in Paris.
Mendonça explained that strengthening supervision to DNFBPs is part of preparations for the next international evaluation, scheduled for 2030. DNFBPs are sectors of economic activity that, while not part of the traditional banking or financial system, carry the risk of being used for money laundering and terrorist financing.
The sectors covered include real estate, casinos, vehicle sales, legal services, auditing and accounting, as well as the trade in precious stones and metals.
“The country must ensure the effective operation of mechanisms to prevent and combat money laundering and the financing of terrorism. Efforts are currently being strengthened to ensure we do not return to the “grey list”. We must build the internal capacity to keep the country off that list”, he said.
Mendonça explained that risk-based supervision represents a shift away from random oversight, allowing for the identification of entities, products, services, and clients with the highest exposure to illegal practices, thereby enabling supervisory resources to be focused on the most vulnerable areas.
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