Issues by the Ministry of Financial Services and Good Governance on 25 October 2020
During the virtual Plenary session held between the 21-23 October 2020, Mauritius was commended for the tremendous progress made with respect to putting its jurisdiction at par with best practice norms for the fight against money laundering, terrorist financing and proliferation financing.
Having acknowledged the substantial progress made by Mauritius well ahead of the timelines included in the Action Plan, Mauritian authorities were strongly encouraged to maintain their focus and engage with the FATF with respect to completing the remaining action items.
Earlier this year, FATF had previously rated as largely compliant the banking framework in Mauritius based on the control measures implemented for inter alia cross border transactions. Necessary actions continue to enhance and further align the framework in place for the financial services sector with international best practice.
The Ministry wishes to reassure the investor community of Mauritius’ ongoing commitment, including at the highest political level, to exit the FATF process at the earliest.
In that respect, the Ministry is leaving no stone unturned to complete the remaining action items at the earliest and demonstrate the effectiveness of the Mauritius AML/CFT regime to counter money laundering, terrorist financing, and proliferation financing.