Mozambique: Financial intelligence unit receives more than 4,000 suspicious transaction reports a year – Notícias

The figure is even higher when all notifications related to mandatory reporting thresholds are included. These cover cash transactions of 250,000 meticais (around US$3,912 at current exchange rates) or more carried out through financial institutions. Banks, insurance companies and real estate agencies are required to automatically report transactions involving these amounts, without any need for suspicion.

The same applies to electronic transactions worth 750,000 meticais (around US$11,736 at current exchange rates) or more. “Those amount to many hundreds of thousands. But when it comes to actual suspicious transaction reports, we are talking about around 4,000 reports a year,” said Paulo Munguambe, Director of Legal Services, Studies and Cooperation at GIFiM.