Mauritius Financial Regulator Issues Revised Anti-Money Laundering and Countering the Financing of Terrorism Handbook

Introduction

The Financial Services Commission (FSC) has developed its revised Anti-Money Laundering and Countering the Financing of Terrorism Handbook to support financial institutions in adhering to national measures aimed at combating money laundering and terrorist financing.

Purpose of the Handbook

The handbook serves as a guiding tool for financial institutions under the commission’s purview to ensure compliance with the requirements of the Financial Intelligence and Anti-Money Laundering Act (FIAMLA) and the Financial Intelligence and Anti-Money Laundering Regulations 2018. It consolidates the commission’s guidance on anti-money laundering, financing of terrorism, and financing of proliferation of weapons of mass destruction.

Updates to the Handbook

The revised handbook has been updated to provide further clarity on:

• Business risk assessment
• Independent audit in line with the Risk-Based Supervision cycle 2020-21

Additionally, the AML/CFT Handbook was revised again in September 2022 to include a new provision on certification and align with legislative changes made to FIAMLA and FIAML Regulations 2018.

Availability of the Handbook

The commission has made the handbook available for download, providing financial institutions with a comprehensive resource to navigate anti-money laundering and countering the financing of terrorism requirements.