Mozambique’s financial intelligence unit says suspected money laundering networks are channelling large cash deposits through travel agencies before routing the funds to bank accounts linked to an unidentified “international organisation.”
In a new strategic analysis published on Monday, the Financial Information Centre (GIFiM) reports that more than €805 million moved through these agencies between 2022 and 2025, often in fragmented daily deposits far exceeding normal business activity.
“The majority of the travel and tourism agencies carried out several high-value transfers in a structured, fragmented manner to bank accounts held by an ‘international organisation,’
“Given the volume of funds moved in cash by the travel agencies, which does not appear to be compatible with their business turnover and the nature of their corporate purpose, there are strong indications that they may be used for illicit practices,” it says.
GIFiM says the pattern mirrors long‑standing concerns over illicit financial flows in Mozambique where weak oversight has enabled schemes involving cash‑intensive businesses, fictitious companies and employee bank accounts used to disguise transactions.
The watchdog warns that the mechanism allowed illicit funds to enter the financial system and be exported abroad, with some agencies allegedly conducting no legitimate travel‑related services.
The report urges tighter monitoring, regular audits, limits on cash transactions and stronger tax‑authority intervention to curb money‑laundering risks in the sector.
JN/APA