September 30, 2021

FATF Grey List: Mauritius on the right path to be removed from the list by October 2021

Members of the Financial Action Task Force (FATF) delegation which were in Mauritius from the 13th to 15th September 2021 have organized many meetings with the concerned parties during their stay on our island.

 

Throughout the meetings, the members of the delegation had consultations with the heads of regulatory bodies and institutions responsible for combating corruption, meeting within the Core Group, namely the Bank of Mauritius, the Financial Services Commission, the Financial Intelligence Unit or even independent Commission against Corruption (ICAC). They underlined that, in relation to the requirements of the FATF Action Plan, which has 40 recommendations, Mauritius has complied with 39 of them.

 

In addition to meetings with representatives of Management Companies and financial and non-financial economic operators falling under le Designated Non-Financial Businesses Sector, members of the delegation will visit the offices of institutions, businesses, jewellery stores, gaming operators and real estate companies to ensure that they are all logistically and humanly equipped to avoid the risk of money laundering.

 

In fact, a plenary session is scheduled in October from the 17th to 22nd, where Mauritius’ case will be put on the assessors’ table. Based on the optimism displayed by the Mauritian authorities and the efforts taken by Mauritius to strengthen its financial and AML/CFT system, we are confident that Mauritius will be removed from the grey list by October 2021.



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