Financial Crime World

Mauritius Steals a March on Money Laundering and Terrorism Financing with Stringent Regulations

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Mauritius has made significant strides in recent years in its relentless pursuit of combating money laundering and the financing of terrorism and proliferation. The island nation’s commitment to adhering to international standards set by the Financial Action Task Force (FATF) 40 Recommendations and the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Mutual Evaluation Process is unwavering.

Conventions and Treaties

To this end, Mauritius has ratified and acceded to several key conventions, including:

  • The United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (Vienna Convention)
  • The United Nations Convention against Transnational Organised Crime (Palermo Convention)
  • The UN Convention against Corruption
  • The International Convention for the Suppression of the Financing of Terrorism

Legislation

In a major boost to its anti-money laundering and counter-terrorism financing (AML/CFT) regime, Mauritius has enacted several key pieces of legislation:

  • The Financial Intelligence and Anti-Money Laundering Act 2002
  • The Financial Intelligence and Anti-Money Laundering Regulations 2018
  • The Asset Recovery Act 2011
  • The United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019

The AML/CFT legal framework has been significantly strengthened over the years, providing a robust foundation for the country’s efforts to combat money laundering and terrorism financing. With these measures in place, Mauritius is well-positioned to continue its fight against these scourges of modern society.

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