{"id":9848,"date":"2021-11-30T14:42:53","date_gmt":"2021-11-30T14:42:53","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=9848"},"modified":"2021-11-30T14:13:01","modified_gmt":"2021-11-30T14:13:01","slug":"mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report","title":{"rendered":"Mozambique: Banks fined for breaching money laundering, financing of terrorism duties \u2013 Lusa report"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Bank of Mozambique has fined seven credit institutions between February 2020 and June 2021, the regulator announced in a statement.<\/p>\n

The list includes BCI, one of the country\u2019s largest banks, controlled by Portuguese brands (Caixa and BPI), punished for failing to comply with requirements to prevent money laundering and terrorism financing.<\/p>\n

Banco Comercial e de Investimentos (BCI) was fined 53 million meticais (around 720,000 euros) for breach of four duties, namely: the \u201cduty to identify and verify customers, as well as that of the continuous monitoring of business relationships\u201d; the \u201cspecial control of transactions,\u201dduty; \u201cthe duty to keep documents\u201d; and the duty to \u201creport suspicious transactions,\u201d the central bank statement said.<\/p>\n

The facts relate to the period from 2013 to 2018.<\/p>\n

Six other credit institutions were also subject to sanctions.: the African Banking Corporation (BancABC), Standard Bank Mo\u00e7ambique, First Capital Bank, Socremo, Bayport Financial Services Mo\u00e7ambique and the Pemba Women\u2019s Credit Union.<\/p>\n

The first four above-mentioned financial institutions (BancABC), Standard Bank Mo\u00e7ambique, First Capital Bank and Socremo) were fined for violating articles of the law on preventing and combating money laundering and terrorism financing, while the last two entities [Bayport Financial Services Mo\u00e7ambique and the Pemba Women\u2019s Credit Union.] disrespected the law on credit institutions and financial companies.<\/p>\n

BancABC was sanctioned for seven infractions with a fine of 64.4 million meticais (890,000 euros), the only one higher than that applied to BCI.<\/p>\n

According to the central bank, in the same period [ between February 2020 and June 2021] sanctions were also applied to four financial companies operating in the country (Mundo de C\u00e2mbios, Carteira M\u00f3vel, Casa de C\u00e2mbios de Xai-Xai and M-Mola) and nine illegal operators, in this case individual companies.<\/p>\n

In these cases, they concern infringements of the laws of the respective sectors of activity.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Bank of Mozambique has fined seven credit institutions between February 2020 and June 2021, the regulator announced in a statement. The list includes BCI, one of the country\u2019s largest banks, controlled by Portuguese brands (Caixa and BPI), punished for failing to comply with requirements to prevent money laundering and terrorism financing. […]<\/p>\n","protected":false},"author":84,"featured_media":9846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-9848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMozambique: Banks fined for breaching money laundering, financing of terrorism duties \u2013 Lusa report - Mozambique<\/title>\n<meta name=\"description\" content=\"The Bank of Mozambique has fined seven credit institutions between February 2020 and June 2021, the regulator announced ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique: Banks fined for breaching money laundering, financing of terrorism duties \u2013 Lusa report\" \/>\n<meta property=\"og:description\" content=\"The Bank of Mozambique has fined seven credit institutions between February 2020 and June 2021, the regulator announced ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-30T14:42:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/11\/img-61a631547c9dc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"749\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique: Banks fined for breaching money laundering, financing of terrorism duties \u2013 Lusa report\",\"datePublished\":\"2021-11-30T14:42:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report\"},\"wordCount\":322,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/11\/img-61a631547c9dc.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-banks-fined-for-breaching-money-laundering-financing-of-terrorism-duties-lusa-report\",\"name\":\"Mozambique: Banks fined for breaching money laundering, financing of terrorism duties \u2013 Lusa report - 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