Financial Crime World

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Mauritius’ Financial Intelligence Units Play Pivotal Role in Combating Crime and Terrorism

The Financial Intelligence Unit (FIU) of Mauritius has been at the forefront of combating financial crimes and terrorism since its establishment in August 2002 under Section 9 of the Financial Intelligence and Anti Money Laundering Act. As the national central agency, it is responsible for:

  • Collecting financial information related to suspected proceeds of crime
  • Analyzing and disseminating this information to relevant authorities
  • Identifying money laundering offenses and terrorist financing activities

Expansion of Mandate

In January 2016, the FIU’s mandate was expanded when amendments were made to the Asset Recovery Act 2011. For nearly eight years, the unit was responsible for asset recovery functions until March 29, 2024, when these powers were transferred to the Financial Crimes Commission following the proclamation of the Financial Crime Commission Act 2023.

Regulatory Role

In addition to its core functions, the FIU also plays a crucial role as an anti-money laundering and combating the financing of terrorism (AML/CFT) regulator for key sectors such as:

  • Legal professionals
  • Real estate
  • Jewelry

This dual responsibility enables the unit to effectively monitor and regulate these industries, ensuring that they adhere to strict AML/CFT standards and do not facilitate illicit activities.

Contribution to Financial Crime Fighting

The FIU’s multi-faceted role has been instrumental in Mauritius’ efforts to strengthen its financial intelligence infrastructure and combat complex criminal networks. Its expertise and capabilities have also been recognized by international organizations, solidifying the country’s reputation as a leading player in global financial crime fighting initiatives.

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