Mauritius Takes a Proactive Approach to Anti-Money Laundering with Risk-Based Guidance
In a significant move aimed at bolstering the country’s efforts against money laundering and terrorist financing, the Financial Services Commission has released an updated Anti-Money Laundering and Countering the Financing of Terrorism Handbook.
Updated AML/CFT Handbook: A Valuable Resource for Financial Institutions
The comprehensive guide is designed to support financial institutions in adhering to national measures and regulations, as outlined in the FIAMLA and FIAML Regulations 2018. The handbook serves as a valuable resource for institutions under the Commission’s purview, providing guidance on:
- Anti-money laundering
- Terrorist financing
- Financing of proliferation of weapons of mass destruction
Risk-Based Supervision Cycle
The handbook also provides vital information on conducting business risk assessments and independent audits, following the Risk-Based Supervision cycle 2019-2020. This ensures that financial institutions are equipped to identify and mitigate potential risks.
September 2022 Update: Certification Provision Added
In addition to these updates, the handbook has been revised once again in September 2022 to incorporate a new provision on certification, ensuring that financial institutions are fully compliant with legislative changes. This demonstrates the Commission’s commitment to staying ahead of evolving threats and promoting a robust anti-money laundering framework.
Accessing the AML/CFT Handbook
The AML/CFT Handbook is now available for download, offering financial institutions a valuable tool in their fight against money laundering and terrorist financing. With this comprehensive guide, financial institutions can ensure they are meeting national measures and regulations, ultimately contributing to a safer and more secure financial system.
Download the AML/CFT Handbook
[Insert link to download the handbook]
By staying proactive and updating its guidance regularly, Mauritius demonstrates its commitment to combating money laundering and terrorist financing. The AML/CFT Handbook is an essential resource for financial institutions in the country, helping them navigate the complex landscape of anti-money laundering regulations.