{"id":915,"date":"2021-02-17T08:09:05","date_gmt":"2021-02-17T08:09:05","guid":{"rendered":"http:\/\/localhost:8080\/fiu\/?page_id=915"},"modified":"2021-02-18T06:14:46","modified_gmt":"2021-02-18T06:14:46","slug":"institutions","status":"publish","type":"page","link":"https:\/\/www.fiumauritius.org\/fiu\/?page_id=915","title":{"rendered":"Institutions"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"915\" class=\"elementor elementor-915\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c1d3b5a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c1d3b5a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-464e6a6\" data-id=\"464e6a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-df8c20b elementor-widget elementor-widget-spacer\" data-id=\"df8c20b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4f35103 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4f35103\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-22c0c8c\" data-id=\"22c0c8c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-05f92e8 elementor-widget elementor-widget-heading\" data-id=\"05f92e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Institutions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e0d0fd1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e0d0fd1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aec3017\" data-id=\"aec3017\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dbfebbd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dbfebbd\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0f2a9e9\" data-id=\"0f2a9e9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b5d8f7 elementor-widget elementor-widget-heading\" data-id=\"5b5d8f7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Investigatory Authorities<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-372004f elementor-widget elementor-widget-text-editor\" data-id=\"372004f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe FIAMLA 2002 defines investigatory authorities as including the Commissioner of Police, the Director of Customs, the Enforcement Authority, Independent Commission against Corruption and the Integrity Reporting Services Agency. Financial information, concerning suspected proceeds of crime, alleged money laundering offences and\/or financing of activities or transactions related to terrorism, is disseminated by the FIU to relevant investigatory authorities for enquiry.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d124133 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"d124133\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-162caaf elementor-widget elementor-widget-heading\" data-id=\"162caaf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Independent Commission against Corruption<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72e061b elementor-widget elementor-widget-text-editor\" data-id=\"72e061b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe Independent Commission against Corruption (ICAC) set up under the Prevention of Corruption Act (PoCA) 2002 is vested with powers to investigate corruption offences as well as money laundering or suspicious transactions referred to it by the FIU. The PoCA 2002 also provides for the ICAC to co-operate and collaborate with international institutions, agencies and organisations in the fight against money laundering and take necessary measures in consultation with the FIU. The ICAC may make an application for an attachment order to a Judge in Chamber, where the Commission has reasonable ground to suspect that a person has committed an offence under the FIAMLA 2002.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e9db11 elementor-widget elementor-widget-heading\" data-id=\"1e9db11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Mauritius Revenue Authority - Customs<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a643e3c elementor-widget elementor-widget-text-editor\" data-id=\"a643e3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Customs and Excise Department assists the FIU in the fight against money laundering and terrorist financing by providing the following information, upon request:<\/p><ul><li>Import and export documents such as customs declarations, commercial invoices, bill of ladings and modes of payment<\/li><li>Records of shipper\u2019s export\/import documents<\/li><li>Listings of Customs Brokers, their clerks, Freight Forwarders and other agents transacting import\/export business<\/li><li>Statistics.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d45b43f elementor-widget elementor-widget-heading\" data-id=\"d45b43f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">\u200bPolice Department<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-70c8a12 elementor-widget elementor-widget-text-editor\" data-id=\"70c8a12\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe FIU works in close collaboration with the Police Department, especially with the Anti Drugs and Smuggling Unit. Information is provided to the FIU, upon request, by different sections of the Police Department such as the Passport and Immigration office and Crime Records Office.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6fcaba0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6fcaba0\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a156090\" data-id=\"a156090\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ed60a84 elementor-widget elementor-widget-heading\" data-id=\"ed60a84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Supervisory Authorities<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0e54c88 elementor-widget elementor-widget-text-editor\" data-id=\"0e54c88\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe Bank of Mauritius and Financial Services Commission are the two financial regulators of Mauritius and they ensure that their licensees comply with AML\/CFT requirements. They have a duty, under the FIAMLA 2002, to pass on information relating to the possibility of money laundering or a suspicious transaction, to the FIU.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7777ad2 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7777ad2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f35f171 elementor-widget elementor-widget-heading\" data-id=\"f35f171\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Bank of Mauritius<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46fe6d8 elementor-widget elementor-widget-text-editor\" data-id=\"46fe6d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\u200b\u200bThe Bank of Mauritius (BOM) is the supervisory authority for banks, foreign exchange dealers and money changers. It issues guidelines for the fight against money laundering and terrorism financing Non compliance, through negligence, omission or a serious defect in implementation of the codes and guidelines or the requirements imposed in the FIAMLA 2002 and FIAML Regulations 2003, is subject to sanction by the BOM. A banking license may be amended or revoked under the Banking Act 2004 in the absence of a reasonable excuse for a transgression, and on the basis that business is being carried out in a way contrary to the interest of the public.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-985fe25 elementor-widget elementor-widget-heading\" data-id=\"985fe25\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">\u200bFinancial Services Commission<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-74daa15 elementor-widget elementor-widget-text-editor\" data-id=\"74daa15\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe Financial Services Commission (FSC) set up under the Financial Services Development Act (FSDA) 2001 regulates the non-bank financial services sector. The FSC issued Codes on the Prevention of Money Laundering and Terrorist Financing for three categories of businesses namely Management Companies, Investment Businesses and Insurance Entities. It is also empowered to take regulatory sanction against any financial institution for non compliance, through negligence or otherwise, with any requirement in the FIAMLA 2002 or FIAML Regulations 2003.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-390a09e elementor-widget elementor-widget-text-editor\" data-id=\"390a09e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In addition to the financial sector supervisors, the supervision of Designated Non financial businesses and professions ( DNFBPs) has been significantly strengthened. Under the FIAMLA, AML\/CFT supervisors have been designated for each of the DNFBPs as follows:<\/p><ol><li>the FIU supervises individual legal practitioners, namely barristers, attorneys and notaries, Dealers in Jewelry, precious stones and metals and real estate agents, land promoters and property developers;<\/li><li>The Attorney General\u2019s Office supervises Law firms, Joint ventures, Foreign lawyers as well as Foreign Joint Ventures under the Law Practitioners\u2019 Act;<\/li><li>The Mauritius Institute of Professional Accountants supervises professional accountants, public accountants and member firms under the Financial Reporting Act;<\/li><li>The Gambling Regulatory Authority supervises the gambling sector and<\/li><li>The Registrar of Companies supervises Company Service Providers.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Institutions AML\/CFT Framework Legislations Institutions AML\/CFT Supervision Targeted Financial Sanctions Investigatory Authorities The FIAMLA 2002 defines investigatory authorities as including the Commissioner of Police, the Director of Customs, the Enforcement Authority, Independent Commission against Corruption and the Integrity Reporting Services Agency. Financial information, concerning suspected proceeds of crime, alleged money laundering offences and\/or financing of &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=915\"> <span class=\"screen-reader-text\">Institutions<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-915","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages\/915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=915"}],"version-history":[{"count":6,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages\/915\/revisions"}],"predecessor-version":[{"id":958,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages\/915\/revisions\/958"}],"wp:attachment":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}