Financial Crime World

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Financial Crime Research Papers in Mauritania: A Comprehensive Analysis

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A recent report on financial crime research papers in Mauritania has shed light on the country’s compliance with the Financial Action Task Force (FATF) Recommendations. According to the report, Mauritania received a rating of “largely compliant” for its implementation of technical requirements.

Compliance Rating

The report assessed Mauritania’s performance across 40 ratings, which reflect the extent to which the country has implemented the FATF Recommendations. The ratings range from “compliant” (C) to “non-compliant” (NC), with “largely compliant” (LC) and “partially compliant” (PC) falling in between.

Areas of Compliance

  • R.1 - Assessing risk and applying a risk-based approach: LC
  • R.2 - National cooperation and coordination: LC
  • R.3 - Money laundering offence: LC
  • R.6 - Targeted financial sanctions related to terrorism and terrorist financing: LC
  • R.7 - Targeted financial sanctions related to proliferation: LC

Areas of Partial Compliance

  • R.4 - Confiscation and provisional measures: PC
  • R.5 - Terrorist financing offence: PC
  • R.10 - Customer due diligence: PC
  • R.12 - Politically exposed persons: PC
  • R.14 - Money or value transfer services: PC
  • R.16 - Wire transfers: PC
  • R.20 - Reporting of suspicious transactions: PC

Areas of Non-Compliance

  • R.8 - Non-profit organisations: NC
  • R.15 - New technologies: NC
  • R.24 - Transparency and beneficial ownership of legal persons: NC

Areas for Improvement

The report also highlighted several areas where Mauritania needs to improve, including:

Financial Institutions

  • Regulation and supervision of financial institutions (R.26)
  • Powers of supervisors (R.27)

Designated Non-Financial Businesses and Professions (DNFBPs)

  • Regulation and supervision of DNFBPs (R.28)

Conclusion

Overall, the report provides a comprehensive analysis of Mauritania’s compliance with the FATF Recommendations and highlights areas for improvement to strengthen its anti-money laundering and counter-terrorism financing regime.