Africa: Mozambique Has World's Highest Money Laundering and Terrorist Financing Risk

Of 125 countries assessed, Mozambique has the highest risk of money laundering and terrorist financing, according to a report issued by the Basel Institute of Governance on 19 April.

"Poor border controls and weak government institutions expose the country to cross-border crimes related to drugs and human trafficking. Mozambique is also vulnerable to other predicate offences including corruption, car theft and smuggling, robbery, cash smuggling, illicit trade in precious metals and stones, customs fraud and goods smuggling. Mozambique has high risks associated with corruption, which is a pervasive problem in the country," the report says. "The country also fares poorly on Financial Transparency and Standards". The report also notes that Mozambique is "listed among the US INCSR list of major money laundering countries."

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.