The FIU is the established Central Agency in Mauritius responsible for receiving, requesting, analysing and disseminating to investigatory and supervisory authorities, the Counterterrorism Unit and Registrars disclosures of information-
a. concerning suspected proceeds of crime and alleged money laundering offences:
b. required by or under any enactment in order to counter money laundering: or
c. concerning the financing of any activities or transactions related to terrorism.
The Financial Investigative Analysis process
Receipt of STR and Non-STR Disclosures
The FIU receives input from Suspicious Transaction Reports (“STR”) filed by Reporting Persons or Reporting Entities as per Section 14 of the FIAMLA 2002. In addition, the FIU also receives Non-STR disclosures from Investigatory & Supervisory authorities, foreign FIUs and other sources.
In accordance with section 14 (1) every reporting person or auditor shall, as soon as he becomes aware of a suspicious transaction, make a report to the FIU of such transaction not later than 5 working days after the suspicion arose. Section 14(3) of FIAMLA further provides that : if a reporting person or auditor – (a) becomes aware of a suspicious transaction or (b) ought reasonably to have become aware of a suspicious transaction, and he fails to make a report to the FIU of such transaction not later than 5 working days after the suspicion arose he shall commit an offence and shall, on conviction, be liable to a fine not exceeding one million rupees and to imprisonment for a term not exceeding 5 years.
2. Collection of information
Following information available from STRs and other disclosures received, the FIU collects information from domestic and foreign sources including closed and open sources. Reliable, accurate and timely information facilitate both operational and strategic analysis.
3. Request for information
The request function of the FIU is set out in Section 13 of the FIAMLA. The FIU has the ability to request and obtain information from reporting entities, supervisory and investigatory authorities, foreign counterparts or any other competent bodies, as needed to perform its analysis.
In accordance with section 13(4) of the FIAMLA: Where a reporting person or an auditor receives a request for information under subsection (2) or (3), the reporting person or auditor shall, notwithstanding section 300 of the Criminal Code and any other enactment, furnish, as soon as practicable but not later than 15 working days after the request, the FIU the requested information.
4. Analysis of information
Based on all information available through STRs and non-STR disclosures received and other information collected and evaluated, the FIU performs both:
- Operational analysis to identify potential money laundering and terrorist financing cases; and
- Strategic analysis to identify money laundering and terrorist financing related trends and patterns.