Mauritius Imposes Financial Sanctions on Listed Parties Under UN Resolution

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The Government of Mauritius has taken a significant step in curbing threats to international peace and security by implementing targeted financial sanctions against listed parties under the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019.

Background

In a bid to prevent terrorism, financing of terrorism, and proliferation of weapons of mass destruction, the Government of Mauritius has implemented targeted financial sanctions against listed parties. This move is aimed at protecting international peace and security.

Implementation Details

The National Sanctions Secretariat has issued an Explanatory Note outlining the implementation of United Nations sanctions measures. The notice can be accessed on the Government’s website at https://www.mipa.mu/assets/upload/attachment/NATIONAL_SANCTIONS_SECRETARIAT_NOTICE.PDF.

Responsibilities

Professional accountants, public accountants, and member firms are required to:

• Regularly consult the United Nations Security Council Consolidated List https://www.un.org/securitycouncil/content/un-sc-consolidated-list
• Immediately act upon any changes brought about by the list
• Consult newspapers for any notice issued by the National Sanctions Secretariat

Sanctions Imposed

The listed parties against whom targeted sanctions have been imposed are prohibited from:

• Dealing with their funds or other assets
• Making their funds or other assets available to others
• Owning any funds or other assets with professional accountants, public accountants, and member firms

Reporting Requirements

Professional accountants, public accountants, and member firms must:

• Report immediately if they identify a listed party as one of their customers
• Verify the details of the listed party and submit a report to the National Sanctions Secretariat and the Mauritius Institute of Professional Accountants if funds or other assets have been identified
• Report suspicious information relating to a listed party to the Financial Intelligence Unit (FIU) in accordance with section 14 of the Financial Intelligence and Anti-Money Laundering Act

Consequences of Non-Compliance

Failure to comply with these obligations is an offence.

Supervision and Enforcement

The Mauritius Institute of Professional Accountants is responsible for supervising and enforcing compliance by its licensees with the requirements imposed under the Act. The institute must implement internal controls and other procedures to ensure effective compliance with the Act.

By implementing targeted financial sanctions, the Government of Mauritius has demonstrated its commitment to protecting international peace and security.