Mauritius Issues Preliminary AML Analysis to Identify Gaps in the Current System

The Bank of Mauritius and the Mauritius Financial Services Commission have issued new anti-money laundering guidance, ordering all regulated entities to conduct a gap analysis against their requirements, and to submit plans to: 

  • Remedy any deficiencies in their risk-based approach.
  • Customer due diligence.
  • Ongoing monitoring.
  • Reporting of suspicious transactions.
  • Record-keeping and employee training.

Going forward, any Mauritian entities failing to comply with the guidelines to adequate standards may face regulatory and remedial action.