Mauritius progress to exit FATF list

A key milestone came following the June 2021 plenary meeting that commended the significant progress made by all stakeholders of the Financial Services sector to address the strategic shortages identified and complete the action plan despite the current difficult circumstances caused by the COVID-19 pandemic.

 

The Financial Action Task Force (FATF) announced “that Mauritius has substantially completed its Action Plan and warrants an on-site assessment to verify that the implementation of Mauritius’s AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future.”

 

This is a decisive step for Mauritius towards exiting the FATF List of “Jurisdictions Under Increased Monitoring”. Mauritius has been commended by the FATF for the progress achieved in addressing the strategic deficiencies especially despite the difficult circumstances caused by the COVID-19 pandemic. The FATF will now conduct an onsite visit following which a decision will be taken by the FATF, at its Plenary scheduled for October 2021, on the delisting of Mauritius from the grey list.

 

For additional information, we invite you to click on the link for the Communiqué from the Ministry of Financial Services and Good Governance.