Financial Crime World

Mauritius Takes a Stiff Line Against Money Laundering as it Adheres to International Standards

Combating Illicit Activities in Mauritius

Mauritius has been unwavering in its commitment to combating money laundering, terrorism financing, and proliferation funding. The island nation has taken significant steps by enacting crucial legislation, establishing key institutions, and undergoing rigorous assessments of its anti-money laundering and counter-terrorist financing (AML/CFT) system.

International Standards

Mauritius is committed to adhering to international AML/CFT standards set forth by:

  • Financial Action Task Force (FATF) 40 Recommendations
  • Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Mutual Evaluation Process

Additionally, Mauritius has ratified and acceded to numerous AML/CFT Conventions, including:

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

Mauritius has bolstered its AML/CFT legal framework in recent years by enacting several critical pieces of legislation, including:

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

These measures demonstrate Mauritius’ commitment to combating money laundering, terrorism financing, and proliferation funding, and its dedication to adhering to international standards.