Mauritius took its first AML measures in1995 with the adoption of the first version of the Dangerous Drugs Act which criminalized money laundering where the predicate offence relates to drug offences.

It caters for the

• Control of dangerous drugs
• Prevention, Detection and Repression of drug trafficking
• Prevention of laundering of drug money in Mauritius
• Sentencing of drug-traffickers
• Makes provision for the seized assets of drug offenders to be vested in designated institutions
• Restriction of bail

To download a copy of the Act, please click here.

The Financial Intelligence and Anti Money Laundering Act (FIAMLA) 2002 replaced the Economic Crime and Anti Money Laundering Act (ECAMLA) which was a first attempt to implement the international FATF standards and was repealed in 2002.

• FIU Mauritius established under Part 3 (sections 9-13)
• It provides for the offences of money laundering and the liability for a 2 million rupees fine, and a term of imprisonment not exceeding 10 years. (Part 2, sections 3 & 8)
• Reporting institutions have a duty report suspicious transactions to FIU (Part 4)
• Caters for the exchange of financial intelligence information with international group of overseas FIUs or comparable bodies (Part5, s20)

To download a copy of the Act, please click here.

To download a copy of the Regulations, please click here.

• Establishes the offences relating to terrorism (Part 2, Part 6, s32)
• Empowers our legal system to adequately deal with terrorism
• Provides for the prevention and suppression of terrorism
• Reinforces intelligence gathering, investigatory and enforcement measures relating to terrorism offences (Part 6)
• Implements the international commitments of the Republic of Mauritius with regards to terrorism.

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The Prevention of Corruption Act, which established the Independent Commission against Corruption (ICAC), has the specific mandate to investigate corruption and money laundering offences.

• Provides for the prevention and punishment of corruption such as bribery, taking gratification, Traffic d’influence etc. (Part 2)
• Establishes the Independent Commission Against Corruption. (Part 3)
• Money laundering and corruption asset forfeiture (Part 7)

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It provides for offences relating to the financing of terrorism in line with the International Convention for the Suppression of the Financing of Terrorism.

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The Mutual Assistance in Criminal and Related Matters Act has been enacted to enable the widest possible measure of international co-operation to be given and received by Mauritius promptly and to the fullest extent possible, in investigations, prosecutions or proceedings concerning serious offences and related civil matters

• Makes provision for mutual assistance between the Republic of Mauritius and a foreign state or an international criminal tribunal in relation to serious offences and to provide for related matters.

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The regulatory framework in the financial services sector underwent significant review and new laws were enacted to meet international standards and modernize the regulation of financial services in Mauritius.

• Reinforced its regulatory and supervisory functions, in line with changes brought in Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) legislative framework
• Issued a Guidance Notes on AML/CFT for banks and cash dealers in November 2003.

To download a copy of the Act, please click here.

In October 2004, the Government of Mauritius introduced the Banking Act 2004 in order to consolidate the laws relating to the business of banking and other financial institutions and to provide for related matters.

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• Regulates the reporting of financial matters
• Establishes the Financial Reporting Council, the Mauritius Institute of Professional Accountants and the National Committee on Corporate Governance

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The Financial Services Act (FSA) 2007 repealed the Financial Services Development (FSDA) 2001. It was enacted to amend and consolidate the law regulating financial services, other than banking and global business and to provide for related matters.

• Establishment of the Financial Services Commission to regulate the non-bank financial services
• As regulator for the financial services sector, the FSC issue Codes on the Prevention of Money Laundering and Terrorist Financing.

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Amends and consolidate the law relating to trusts and trustees.

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The non-bank financial services sector has been enhanced and refined with the enactment of the Securities Act 2005 and the Insurance Act 2005.

• Provides a legal framework for the regulation of betting on foreign horse races, football matches and other events or contingencies and of interactive gambling;
• Makes provision to foster responsible gambling in order to minimise harm caused by gambling
• Provides one single regulator for better synergy and enforcement
• Provides for related matters

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• One of the aims of the FA 2009 is to build on a more sophisticated fiscal system
• The Finance Act 2009 provides for implementation of measures announced in the Budget Speech and for strengthening and streamlining of certain other provisions relating to revenue, public finance and banking and financial services.

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• The Asset Recovery Act 2011 provides for conviction-based and non-conviction-based recovery of assets and for related matters.

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In March 2001, Mauritius acceded to the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances of 20^th December 1988, known as the Vienna Convention.

On 18 April 2003, Mauritius ratified the United Nations Convention against Transnational Organised Crime dated the 15^th December 2000 and known as the Palermo Convention.

On 14 December 2004, the UN Convention against Corruption, dated the 31^st October 2003 and known as the Merida Convention,was ratified by Mauritius.

On 11 December 2004, Mauritius ratified the International Convention for the Suppression of the Financing of Terrorism dated the 9^th December 1999.