Regulatory Alerts2015-06-17
Notice No. 4/GBM/2015 of 17 June Approving the Guidelines on Prevention and Repression of Money Laundering and Terrorist Financing
Banco de Moçambique issued Notice No. 4/GBM/2015 to approve comprehensive Guidelines on the Prevention and Repression of Money Laundering and Terrorist Financing, mandating financial institutions to implement robust internal control programmes, risk-based customer due diligence, and enhanced monitoring procedures. The Guidelines establish clear responsibilities for Boards of Directors, Suspicious Transaction Reporting Officers (STROs), and internal audit functions to ensure effective risk assessment, reporting to the Financial Information Office of Mozambique (FIOM/GIFiM), and continuous Know Your Customer compliance. Non-compliance constitutes a punishable regulatory offence, with the Notice entering into force sixty days after publication and revoking all contrary provisions.