Strengthening Compliance Training in Mauritius Banks to Combat Money Laundering and Terrorist Financing
Mauritius banks are being urged to prioritize compliance training for their staff to combat money laundering and terrorist financing. The island nation is seeking to strengthen its anti-money laundering (AML) framework and comply with international standards.
The Challenge of Lack of Understanding
Many banks and financial institutions in Mauritius lack adequate understanding of how launderers exploit the financial system to facilitate illegal activities. This lack of knowledge puts them at risk of being used as conduits for illicit funds.
Comprehensive Compliance Training Program Launched
FAppavoo Business School Ltd has launched a comprehensive compliance training program designed specifically for senior management, management staff, corporate administrators, compliance officers, MLROs, team leaders in financial sectors, and accounts executives. The course aims to equip participants with the knowledge and skills necessary to identify and assess risks associated with money laundering and terrorist financing.
Course Highlights
- Covers the three stages of how launderers abuse the financial system
- Identifies weaknesses or gaps in identifying and assessing risk
- Emphasizes the importance of a proper framework of internal control measures
- Includes recent updates on the legislative and regulatory framework for anti-money laundering
Interactive and Engaging Training
The course is led by experienced trainer Kaminee Busawah and is designed to be interactive and engaging. Participants are encouraged to share their experiences and best practices in tackling AML threats.
Certification and Refund
The training program is certified by the Human Resources Development Council (HRDC), allowing employers to claim up to 75% of the costs as a refund.
Early Registration Discounts Available
Early registration discounts are available for those who sign up before August 18, 2021. With an effective cost of MUR 1,250 after HRDC refund, this training program offers excellent value for money for financial institutions seeking to strengthen their AML defenses.