Mozambique’s Ministry of Finance has highlighted a regional workshop running in Maputo from Nov. 2 to 6 to strengthen risk based supervision of designated nonfinancial businesses and professions (DNFBPs). The training brings together regulators and supervisors from member countries of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG). It focuses on directing supervisory resources toward entities and activities most exposed to money laundering and terrorist financing risks. At the opening session, Ministry of Finance Permanent Secretary Albertina Furquia emphasized the need for preventive supervision as these sectors face growing risks of being used to conceal illicit funds or move criminal proceeds. The sectors covered include real estate and casinos, trading in precious stones and metals, and services provided by lawyers, auditors and accountants. Experts from the Financial Action Task Force (FATF) and the World Bank are providing technical input on international standards and supervisory methodologies. The workshop also supports exchanges among participating countries on developing harmonized supervisory approaches.
Mozambique’s Ministry of Finance highlights risk based supervision of nonfinancial sectors at regional workshop
Mozambique’s Ministry of Finance has highlighted regional training in Maputo from Nov. 2 to 6 on risk based supervision of designated nonfinancial businesses and professions. The workshop focuses on targeting supervisory resources toward entities and activities most exposed to money laundering and terrorist financing risks. Financial Action Task Force and World Bank experts are providing technical input on international standards and supervisory methods.