Mauritius Steps Up Anti-Money Laundering Efforts with Revised Guidelines for Financial Institutions

The Mauritius Financial Services Commission has issued an updated handbook aimed at assisting local financial institutions in complying with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.

Strengthening National Measures Against Money Laundering and Terrorist Financing

In a bid to strengthen its national measures against money laundering and terrorist financing, the Commission has issued an updated AML/CFT Handbook. The handbook consolidates guidance on:

• AML
• CFT
• Financing of proliferation of weapons of mass destruction

Revised Guidelines for Financial Institutions

The handbook has undergone revisions in recent years to provide financial institutions with more comprehensive guidance on:

• Business risk assessment
• Independent audit, as part of the Commission’s Risk-Based Supervision cycle for 2020-21
• A new provision on certification, introduced in September 2022, to align with legislative changes to:
  • Financial Intelligence and Anti-Money Laundering Act (FIAMLA)
  • Financial Intelligence and Anti-Money Laundering Regulations 2018

Availability of the Handbook

The updated AML/CFT Handbook is now available for download, marking another significant step forward in Mauritius’ efforts to combat financial crime and maintain its reputation as a secure and stable financial hub.

Conclusion

The revised guidelines aim to assist financial institutions in complying with anti-money laundering and combating the financing of terrorism regulations. The updated handbook reflects the Commission’s commitment to strengthening national measures against money laundering and terrorist financing, ensuring Mauritius remains a secure and reliable destination for international transactions.