In light of Law No. 14/2013, of August 12 – Law on Preventing and Combating Money Laundering and Terrorist Financing – the crime of money laundering is committed by those that intentionally or knowingly: a) Convert, transfer, assist or facilitate any conversion operation, transfer of the proceeds of crime, partial or whole, directly or indirectly, in order to conceal their illicit origin, or assist a person involved in criminal activities towards exemption from the legal consequences of their acts; b) Conceal the true nature, origin, location, disposition, movement or ownership of proceeds of crime or rights relating thereto; c) Acquire, possess or use goods in any capacity, knowing of their illicit provenance at the time of receipt.
Frequently Asked Questions
Money Laundering and Terrorist Financing
In light of Law No. 14/2013, of August 12 – Law on Preventing and Combating Money Laundering and Terrorist Financing – the crime of terrorist financing is committed by those that, by any means, directly or indirectly, intentionally provide or collect funds to be used or knowing that they will be used, in whole or in part, for carrying out of an act of terrorism by a group or individual a terrorist organization. With regard to preventing and combating money laundering and terrorist financing, the duties of credit institutions and financial companies are as follows: a) Require identification from clients, counterparties and their representatives; b) Due diligence; c) Refuse to carry out transactions when the client or counterparty does not provide their identification or of the person they represent; d) Conserve documents attesting identification; e) Screen operations which prove likely to constitute the crime of money laundering; f) Report, internally and externally, in writing, the suspicion or knowledge of facts that point to money laundering; g) Refrain from engagement by prohibiting suspicious operations. In this case, a report should be immediately submitted to the Public Prosecutor's Office and the Mozambique Financial Information Office (GIFiM); h) Cooperate with the competent judicial authorities by providing the requested information; i) Keep matters confidential. The fact that authorities have been provided with information or that a criminal investigation is underway shall not be revealed to the customer nor to third parties; j) Train employees to identify operations that may concern money laundering, and fulfill other duties, in order to prevent the undertaking of such operations.
The Banco de Moçambique is the supervisory authority of credit institutions, financial companies and the Mozambique Stock Exchange in preventing and combating money laundering and terrorist financing. In this regard, the Banco de Moçambique shall ensure compliance on preventing and combating money laundering and terrorist financing by the institutions concerned. Suspicious Transaction Reporting In light of the procedures laid down by the Mozambique Financial Information Office, suspicious transactions shall be reported electronically, through the link: http://www.gifim.gov.mz