Financial Crime World

Mauritius Issues Financial Sanctions Checklist

The National Sanctions Secretariat of the Republic of Mauritius has issued a public notice in accordance with the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019. This notice is crucial for financial institutions, businesses, and individuals to ensure compliance with financial sanctions imposed by the United Nations.

Background

Pursuant to Section 18(1)(b) of the act, the Financial Intelligence Unit (FIU) disseminates public notices issued by the National Sanctions Secretariat, United Nations Sanctions lists, as well as any changes thereto, to supervisory authorities, investigatory authorities, reporting persons, and any other relevant public or private agency registered with the FIU.

Sanctions Imposed

The public notice provides a checklist of financial sanctions imposed on individuals and entities. The sanctions are based on resolutions adopted by the United Nations Security Council (UNSC) under Chapter VII of the UN Charter.

Sanctions Timeline

  • October 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2626 (2022).
  • September 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2611 (2022).
  • August 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2609 (2022).
  • July 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2587 (2022) and exemptions to travel ban imposed by paragraph 1(b) of resolution 2255 (2015).
  • June 2022: Update of exemption to travel ban imposed by paragraph 1(b) of resolution 2255 (2015).
  • May 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2577 (2022).
  • April 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2563 (2022).
  • March 2022: Public notice issued by the National Sanctions Secretariat regarding sanctions list concerning Yemen.
  • February 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2559 (2022).
  • January 2022: Sanctions imposed on certain individuals and entities listed in UNSC Resolution 2547 (2021).

Compliance

It is essential for anyone operating in Mauritius or dealing with international transactions to familiarize themselves with these sanctions and comply with the requirements set out in the public notice. Failure to do so may result in serious legal consequences.

Importance of Compliance

  • Financial institutions, businesses, and individuals must ensure compliance with financial sanctions imposed by the United Nations.
  • The public notice provides a checklist of sanctioned individuals and entities, as well as exemptions to travel bans.
  • Familiarizing yourself with these sanctions and complying with requirements is crucial for avoiding legal consequences.