The Financial Action Task Force (FATF) International Co-operation Review Group (ICRG) has recommended that Mauritius should be removed from the “Jurisdictions under Increased Monitoring” list, also known as the FATF Grey list, at a meeting on 15th October.
The news were being shared by credible sources in the local financial sector in the likes of Axys Group last evening on social media. Axys Group was founded by Didier Merven in 1992 and is known as a pioneer of wealth management, specializing in professional portfolio management.
“This is good news for Mauritius, which should in principle, be exiting the FATF Grey list and, within weeks thereafter, the EU’s list of “High-Risk 3rd Countries”, the group posted on its LinkedIn page at around 6 pm last night.
Ashvin Ramgoolam, a financial crime and regulatory compliance expert, was among those in the financial sector who rejoiced at the news. He posted the following on LinkedIn: “The delegation of the Africa/Middle East Joint Group (ICRG Regional Review Group) has, following its on-site visit from the 13th to September 15, 2021, tabled a positive report in the ICRG meeting recommending the delisting of Mauritius”.
According to the FATF agenda, a Hybrid Meeting of the FATF Plenary will be held between the 19th and the 21st. This is where the recommendation of the ICRG to remove Mauritius from the FATF Grey list should be ratified.
