Wednesday, 2 June 2010


FROM A DIFFERENT ANGLE by Kenneth Rijock Financial Crime Consultant, Author

Raise Country Risk for Mozambique 2 June 2010Do you have any commercial clients that are doing business in the Republic of Mozambique, or are you banking Mozambican nationals ? If so, please note that OFAC has just sanctioned commercial entities owned by reputed drug kingpin Mohamed Bachir Suleman, who was himself previously named as SDNTK. Suleman allegedly leads a narcotics trafficking and money laundering network in Southern Africa.

If the Treasury Department is sanctioning Mozambican companies, you can be assured that US law enforcement agencies are conducting active investigations of illicit activities in that country. Check out your exposure immediately.

I suggest the following:

•Conduct enhanced due diligence enquiries on all commercial clients doing business with Mozambican entities, to rule out trade-based money laundering.
•Check out any possible or hidden Mozambican PEPs in your client list.
•Are any charity clients moving funds into Mozambique ? That could be cleans narco-profits already laundered.
•Do you have any Portuguese or Brazilian clients who regularly trade with Mozambique ? What about their source of funds ?

Under the circumstances, you should consider raising country risk for Mozambique at this time.


Always consult Country-Check for any country risk issues;

The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.

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