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Mauritius Anti-Money Laundering Guidelines Issued by Financial Services Commission
In a bid to support financial institutions in combating money laundering and terrorist financing, the Financial Services Commission has developed an Anti-Money Launderling and Countering the Financing of Terrorism Handbook.
Purpose of the AML/CFT Handbook
The handbook aims to assist institutions under its purview in adhering to the requirements outlined in the Financial Intelligence and Anti-Money Laundering Act (FIAMLA) and the Financial Intelligence and Anti-Money Laundering Regulations 2018.
What is Covered in the AML/CFT Handbook?
The AML/CFT Handbook serves as a comprehensive guide for all financial institutions, providing insights on:
- Anti-money laundering: Understanding the risks and responsibilities involved in detecting and preventing money laundering activities.
- Countering the financing of terrorism: Knowledge on identifying and blocking transactions related to terrorist financing.
- Financing of proliferation of weapons of mass destruction: Information on detecting and preventing transactions related to the proliferation of weapons of mass destruction.
Who is Covered by the AML/CFT Handbook?
According to the FIAMLA, a financial institution is defined as an entity or individual licensed, registered, or required to be licensed or registered under sections:
- 14 of the Financial Services Act
- 77, 77A, or 79A of the Insurance Act
- 14 of the Securities Act
- 2015 of the Captive Insurance Act
Accessing the AML/CFT Handbook
The AML/CFT Handbook can be accessed online for further reference.