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Mauritius Takes Strides to Combat Money Laundering and Terrorist Financing with Revised Anti-Money Laundering Handbook
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The Financial Services Commission (FSC) has revised its Anti-Money Laundering and Countering the Financing of Terrorism Handbook, aimed at bolstering financial institutions’ efforts in combating money laundering and terrorist financing.
Enhanced Guidance for Financial Institutions
The updated manual consolidates the Commission’s guidance on anti-money laundering, financing of terrorism, and financing of proliferation of weapons of mass destruction. This comprehensive guide aims to assist financial institutions under FSC’s purview in adhering to the requirements of the:
- Financial Intelligence and Assets Management Law Act (FIAMLA)
- Financial Intelligence and Anti-Money Laundering Regulations 2018
Revised Handbook: Key Features
The revised handbook includes enhanced direction on:
- Business Risk Assessment
- Independent Audit
- Certification
These updates build upon insights gathered during the Risk-Based Supervision cycle 2020-21.
New Provision on Certification
A recent amendment in September 2022 introduced a new provision on Certification, brought about by changes to FIAMLA and FIAML Regulations 2018.
Availability of the Revised Handbook
The updated handbook is now available for download, reflecting the FSC’s commitment to staying abreast of evolving regulatory requirements and providing stakeholders with the necessary tools to navigate the complex landscape of anti-money laundering and combating the financing of terrorism.