Africa-Press – Mozambique. The Mozambican government on Friday launched a working group, co-led by the European Union (EU) and the World Bank, to secure Mozambique’s exit from the Financial Action Task Force’s ’grey list’.
The creation of the Technical Assistance Coordination Committee is Mozambique’s response to the announcement made at the end of a FATF plenary meeting in Paris in October, which placed Mozambique on the so-called ‘grey list’ of countries under increased monitoring due to “strategic deficiencies” in the fight against money laundering and terrorism financing.
At the same time, the FATF made nine recommendations designed to secure exit from the list, including training, coordination and cooperation between internal authorities, giving them money and people to work, collecting information and analysing the risk present in the country.
Mozambique’s Centre for Public Integrity (CIP) warned that, in the worst scenario, Mozambican banks could suffer restrictions on international transactions, even seeing “the withdrawal of VISA from Mozambique”.
The EU ambassador in Mozambique, Antonino Maggiore, called the mission of the working group launched on Friday as “a marathon for the coming months”.
“The EU technical assistants are already working with Mozambican institutions and several missions are planned for the coming months,” he said.
“This committee model has been supported by the EU in other countries on the list, with excellent results in, for example, Mauritius,” Maggiore said.
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