Mozambique central bank cracks down on AML breaches
A total of $2.6 million in fines is divided among 15 institutions found in breach of legislation
The Central Bank of Mozambique has fined 15 financial institutions in an attempt to clamp down on money laundering and terrorist financing.
In a statement published on April 9, the financial regulator said it had fined the institutions a total of 158.49 million meticals ($2.6 million) for various violations.
While no specific details of the infringements were provided by the central bank, the names of the institutions, the law they are in breach of and the extent of the fines was listed.
The
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