Mozambique's Illicit Gemstone Trade: Downward Spiral of Corruption
The opaque nature of Mozambique's illicit artisanal and small-scale mining industry has siphoned millions from the country's economy, trapped its workers in a perpetual state of poverty, and has become a significant source of government and police corruption, according to a Global Initiative Against Transnational Organized Crime (GITOC) report.
Report: Targeted Killings Define African Politics and Crime
Assassinations have long been part of criminal and often even political economies in east and the south of Africa, but according to a new report by a Swiss-based independent civil-society organization, they are decreasing now after a long period of rising rates in Kenya, Mozambique and South Africa.
Mozambique US$2B "Tuna Bonds" Trial Now Underway
The son of Mozambique's ex-president and 18 bankers and government officials have faced the judge on Monday in a long-awaited trial over the so-called "tuna bonds" scandal involving US$2 billion worth of secret bank loans and bonds that plunged the nation into a financial crisis.
Report: Sanctions and Asset Recovery Can Reduce Graft
Sanctions can help deter corruption, recover misappropriated funds and assist "the seizure, forfeiture and recovery processes" of ill-gotten assets, experts say.
'Criminals and Terrorists': Framing Mozambique's Insurgency
A report released Monday alleges that Mozambique's Islamist insurgency funds its "terrorist" activities through involvement in a range of criminal economies, including illegal timber, gemstone, wildlife and drug trafficking - these claims are contested, however, by several experts.
Heroin and War Crimes: Conflict Rages On in Mozambique
Hundreds of civilians have been killed by Islamist insurgents, government security forces and a pro-government mercenary company in a poverty-driven conflict in the north of Mozambique, a key pillar in southern Africa's various illicit economies, states a report published on Tuesday.
Dozens Found Dead in Mozambican Shipping Container
Mozambican authorities have discovered the bodies of 64 migrants who died in a sealed shipping container, with fourteen 'deeply traumatised' survivors being treated for severe dehydration and exhaustion.
Credit Suisse in US Crosshairs Over Tuna Bonds Case
The US believes it has enough evidence to prosecute a Swiss bank for its alleged role in a US$2 billion corruption scandal in Mozambique, according toReuters.
South Africa Probes Real Estate Firm for Aiding Money Laundering
The South African real estate regulator is launching a probe into allegations that an agency violated financial regulatory laws when it sold properties worth US$3.2 million to the family of a former Mozambican president.
Russian VTB Joins Legal Fight in Mozambique "Tuna Bonds" Scam
Russian state lender VTB has sued a Mozambican government company over an unpaid loan that is part of a US$ 2 billion multinational fraud scandal known as "tuna bonds," which plunged the Mozambique into deep financial crisis,Reuters reported Monday.
US: Another Guilty Plea in Mozambique Financial Scam
An ex-Credit Suisse banker admitted last week he took kickbacks in a scheme that saw state-owned companies in Mozambique take US$2 billion in loans which helped drive the country into default on its debt,Reuters reported on Friday.
Mozambique Charges 18 in "Tuna Bonds" Scandal
Mozambique announced on Monday the indictment of 18 individuals in connection to the US$2 billion "tuna bonds" scandal that plunged the country into its worst financial crisis since independence.
Report: Mozambique Violence Funded by Illicit Trade
The recent surge of violence in Mozambique at the hand of extremist militants has been funded by the country's illicit economy, according to a new report by theGlobal Initiative Against Transnational Organized Crime.
Mozambique: Former Labor Minister Accused of Corruption
Mozambican authorities named a former Labor Minister as the main suspect in a corruption case involving the illicit removal of some US$1.7 million (100 million meticais) from the National Social Security Institute (INSS), Noticias reported Wednesday.
Report: Chinese Criminal Groups Running "World's Largest Hub" for Ivory Trafficking
Chinese-led organized criminal networks have turned an obscure southern port town into the world's largest hub for ivory trafficking, according to a report published Tuesday.