Financial Crime World

Financial Sanctions Checklist: Mauritius

Mauritius has a robust sanctions regime in place to comply with international standards and avoid criminal penalties. The country implements United Nations (UN) sanctions, as well as its own autonomous terrorist sanctions regimes.

Key Aspects of the Sanctions Regime

Scope

  • Sanctions apply to any person in Mauritius, Mauritian citizens wherever located, corporate entities operating in Mauritius, and those who deal with or provide financial services to sanctioned individuals or entities.
  • Economic sanctions, travel bans, and asset freezes are among the measures employed by the government to enforce compliance.

Authorized Parties

  • Financial institutions, including banks, insurance companies, and other financial institutions, are responsible for implementing and enforcing the sanctions regime.

Key Entities Involved

Financial Intelligence Unit (FIU)

  • The FIU is the central agency responsible for requesting, receiving, analyzing, and disseminating financial information related to suspected proceeds of crime and alleged money laundering offenses.
  • Phone: (+230) 454 1423
  • Email: fui@fiumauritius.org

National Sanctions Secretariat (NSSC)

  • Established under the United Nations (Financial Prohibitions, Arms Embargo, and Travel Ban) Sanctions Act 2019, the NSSC is responsible for implementing targeted sanctions and other measures imposed by the UN Security Council.
  • Phone: (+230) 201 1264 / 201 1366
  • Email: nssec@govmu.org

Anti-Drug Smuggling Unit of the Mauritius Police Force

  • This unit works closely with law enforcement agencies on drug control and treatment programs.
  • Phone: (+230) 211 0877
  • Email: adsuhq.mpf@govmu.org

Compliance Requirements

Due Diligence

  • Financial institutions must conduct due diligence on their clients, including Politically Exposed Persons (PEPs), to identify potential sanctions risks.

Monitoring and Reporting

  • Sanctions lists must be monitored regularly for updates.
  • Suspicious transactions must be reported promptly to the FIU.
  • Institutions are required to report suspicious transactions and any breaches of the sanctions regime to the FIU.

Important Note

The information contained in this article is intended as a guide only and should not be relied upon as legal advice. It is essential to consult with qualified legal professionals for specific guidance on sanctions compliance in Mauritius.