Scoping and training on BOR implementation and management in Mozambique

Ministry inaugurates first activity on Beneficial Ownership Registers in Mozambique

Led by the EU Global Facility on AML/CFT, this activity comes as part of the Technical Assistance Coordination Committee launched two weeks ago to support Mozambique’s efforts to exit the FATF Grey List.

Maputo, 6 February 2023 – The Permanent Secretary of the Ministry of Justice, Constitutional and Religious Affairs, Manuel Malunga, opened this Monday a workshop on Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) organised by the EU-funded project EU Global Facility on AML/CFT.

Organised in collaboration with the Mozambican authorities, the event comes as part of the technical assistance activities delivered by the EU Global Facility to the partner country on the topic of Beneficial Ownership, which officially started at the end of 2022.

Speaking at the opening ceremony, Manuel Malunga said that the implementation of money laundering and terrorist financing reforms, recommended by the national strategy, constitutes a priority for the Government of Mozambique, including strengthening compliance with obligations to prevent the phenomenon in highly vulnerable in Mozambique, such as banks, insurance companies, real estate, exchange offices, casinos, law offices and gaming houses, among others.

Head of Cooperation at the EU Delegation to Maputo, Paula Vazquez Horyaans, noted: “Money Laundering and the financing of terrorism pose a serious threat to the integrity of the economy and to the security of citizens in all countries. The #EU and its Member States have gone a long way fighting these crimes. We are happy to share with Mozambique our experience”

The three-day workshop will allow participants to exchange and further their expertise on the Financial Action Task Force standards on availability and accessibility of beneficial ownership information, the assessment of money laundering and terrorist financing risks associated with the misuse of legal persons and arrangements in Mozambique, the design and implementation of mitigation measures as well as emerging trends and specific topics related to the ever increasing importance of beneficial ownership transparency throughout jurisdictions across the world.

For his part, Team Leader of the EU Global Facility David Hotte rejoiced at the very successful partnership between the EU and Mozambique, stressing: “only two weeks after the launch of the Technical Assistance Coordination Committee in Maputo, the EU Global Facility is already here, onsite, to deliver concrete but also precisely tailored support activities to the country.”
“This is a proof of the reactivity and efficiency of our group of experts, and also of the proactive and collaborative approach of the Mozambican authorities to strengthen their AML/CFT frameworks, which should be commended,” he added.

Mozambique’s efforts regarding the establishment of a beneficial ownership register is being supported by EU Global Facility together with the World Bank