Mauritius’ AML/CFT Framework
Combatting money laundering and the financing of terrorism and proliferation (ML/TF/PF), has been a major objective of Mauritius over the years. In its ongoing commitment to combat ML/TF/PF, Mauritius has taken several important steps such as enacting key legislation, establishing key institutions, undergoing assessment of its anti-money laundering and counter-terrorist and proliferation financing (AML/CFT) system, amongst others.
Mauritius is fully committed to adhere to international AML/CFT standards set out by the FATF 40 Recommendations and the ESAAMLG Mutual Evaluation Process. In addition, Mauritius has ratified and acceded to a number of AML/CFT Conventions including the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, known as the Vienna Convention, the United Nations Convention against Transnational Organised Crime known as the Palermo Convention, the UN Convention against Corruption and the International Convention for the Suppression of the Financing of Terrorism.
The AML/CFT legal framework has been strengthened over the past years and several important pieces of legislation have been enacted including the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA), the Financial Intelligence and Anti-Money Laundering Regulations 2018 (FIAMLR), the Asset Recovery Act 2011 and the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019 (UN Sanctions Act).