Front Matter Page
2008 International Monetary Fund
September 2008
IMF Country Report No.08/318
Mauritius: Report on the Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
This Report on the Observance of Standards and Codes on the FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism for Mauritius was prepared by a staff team from the International Monetary Fund, using the assessment methodology adopted by the FATF in February 2004 and endorsed by the Executive Board of the IMF in March 2004. The views expressed in this document, as well as in the full assessment report, are those of the staff team and do not necessarily reflect the views of the government of Mauritius or the Executive Board of the IMF.
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International Monetary Fund
Washington, D.C.
Front Matter Page
INTERNATIONAL MONETARY FUND
MAURITIUS
Report on Observance of Standards and Codes (ROSC)—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)
Prepared by the Legal Department
Approved by Sean Hagan
December 11, 2008
Contents
Acronyms
A. Introduction
B. Key Findings
C. Legal Systems and Related Institutional Measures
D. Preventive Measures—Financial Institutions
E. Preventive Measures—Designated Non-Financial Businesses and Professions
F. Legal Persons and Arrangements & Non-Profit Organizations
G. National and International Co-operation
H. Authorities’ Response
Acronyms
| AML/CFT - |
Anti-Money Laundering and Combating the Financing of Terrorism |
| BOM - |
Bank of Mauritius |
| CID - |
Crime Investigation Division |
| CDD - |
Customer Due Diligence |
| DDA - |
Dangerous Drugs Act |
| DNFBP - |
Designated Non-Financial Businesses and Professions |
| ESAAMLG - |
Eastern and Southern Africa Anti -Money Laundering Group |
| FATF - |
Financial Action Task Force |
| FIAMLA - |
Financial Intelligence and Anti-Money Laundering Act of 2002 |
| FIU - |
Financial Intelligence Unit |
| FSC - |
Financial Services Commission |
| FT - |
Financing of Terrorism |
| ICAC - |
Independent Commission Against Corruption |
| MACRM - |
Mutual Assistance in Criminal and Related Matters Act 2003 |
| ML - |
Money Laundering |
| NPO - |
Non Profit Organization |
| PEP - |
Politically Exposed Person |
| POCA - |
Prevention of Corruption Act |
| ROSC - |
Report on Observance of Standards and Codes |
| STR - |
Suspicious Transaction Report |
| UNSCR - |
United Nations Security Council Resolution |