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."
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