Mozambique Submits First Assessment Report to Exit the 'Grey List': Mozambique
Maputo — Mozambique has just submitted its first assessment report to the Financial Action Task Force , as part of the steps the country is taking to leave the"grey list', according to a source at the Ministry of Economy and Finance .
The country was placed on the FATF's Grey List on October 21, 2022 for an observation period of two years by the International Cooperation and Review Group , an entity that brings together experts who monitor the progress of countries in matters related to money laundering and terrorist financing, and within this process Mozambique is required to report within an established plan.
In order to leave the grey list, Mozambique will have to carry out by 2024 a national risk assessment for non-governmental organizations, install a system for the identification of the beneficial owner, and develop national and international cooperation actions regarding money laundering, and counter-terrorism.
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