This is what the Prime Minister suggested on Thursday. Pravind Jugnauth said that the government is working on a legal framework to set up a Financial Crime Commission. The creation of such a body has been called for some time as there are too many institutions fighting financial crime. Pravind Jugnauth was participating in the opening of a Forum on ‘Public Private Partnership in Combating Crime’ at the Sofitel Hotel, Flic-en-Flac. This event is organised by the Independent Commission against Corruption, the Bank of Mauritius and the Mauritius Bankers Association on the occasion of the International Anti-Corruption Day.
The Prime Minister, Mr. Pravind Kumar Jugnauth made this announcement this morning, as he launched a forum on public-private partnership in combatting financial crime, which is being held at Sofitel Mauritius in Flic en Flac.
The forum is a joint endeavour of the Independent Commission Against Corruption (ICAC), Bank of Mauritius, and the Mauritius Bankers Association Limited with the support of the British High Commission.
Various eminent personalities including the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, were present on the occasion.
In his address, Prime Minister Jugnauth reiterated the commitment of Government to fighting crimes in all its ramifications. Law enforcement agencies are always provided with the required resources to achieve their strategic plans and make the country the safest nation where the rule of law prevails, he stated.
He cautioned that financial crimes represent significant threats to economies, sustainable development and also have insidious impacts on social and political environment of the state and called for the common responsibility of all institutions and the private sector to work together. He underpinned Government’s resolve to adopt measures to combat financial crimes, which he observed are getting more and more sophisticated with the support of technology.
As a responsible Government, we ensure that our financial sector operates within a strong legal regime and we expect it to ensure compliance with financial crime regulations, he pointed out.
On that score, Prime Minister Jugnauth acknowledged the excellent work performed by law enforcement agencies as well as actors of the private sector and reaffirmed the trust Government places in these institutions.
Furthermore, the Prime Minister highlighted the need for the establishment of trust and confidence as well as the fostering of cooperation among law enforcement agencies at national and international levels along with public-private partnerships to combat financial crimes.
Mr. Jugnauth moreover indicated that Government is supporting ICAC’s recommendation for Mauritius to become a member of the OECD Working Group on Bribery which he announced has recently obtained approval.
He rejoiced that Mauritius is the second African country to become member of the Working Group which he stressed, along with its exit from the Financial Action task Force’s grey list, send a strong signal that there is a determined effort at the Governmental level to develop an effective financial crime framework and system to combat financial crime.
Speaking about the forum, Mr. Pravind Kumar Jugnauth recalled that the objective is to start a dialogue for an enhanced partnership in the fight against financial crimes. According to the Prime Minister, the forum is happening at an opportune moment, since the Government is working fully to realise its vision of positioning Mauritius as a model in the region to combat financial crimes.
He expressed conviction that the conference will come up with recommendations on how to develop a platform on how to promote collaboration between law enforcement agencies and the private sector.
The forum is being organised in the context of the commemoration of the International Anti-Corruption Day (IACD) to reflect on the national fight against corruption and to raise public awareness. The central theme for the IACD 2022 is “Against Corruption: Let’s Stand Together’. The UK Joint Money Laundering Intelligence Task Force and the South African Anti-Money Laundering Integrated Task Force will participate in the event.
The aim of the one-day forum is to get a better understanding of the present public-private partnership already present in UK and South Africa and consider the setting up of Financial Intelligence Sharing Platform in Mauritius.