Regulatory Alerts2022-12-17
Notice No. 5/GBM/2022 of 17 November Approving Guidelines on the Prevention and Combating of Money Laundering, Terrorism Financing and Proliferation Financing
Banco de Moçambique issued Notice No. 5/GBM/2022 to approve comprehensive guidelines implementing Law No. 11/2022 on money laundering, terrorism financing, and proliferation financing prevention. The guidelines mandate financial institutions to adopt risk-based policies, appoint Suspicious Transactions Reporting Officers with clear confidentiality and coordination duties, and conduct regular internal audits and client due diligence. Non-compliance constitutes a punishable regulatory offence, while the notice revokes prior 2015 guidelines and enters into force sixty days after publication.
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