Mauritius is on its way out of the Grey List of FATF. According to FATF, Mauritius and Botswana have substantially completed their action plan at a technical level. Delegates has now authorized onside visit to both countries to check the progress make, as soon as possible, covid condition permitting, and report result in October.
In February 2020, Mauritius made a high-level political commitment to work with the FATF and ESAAMLG to strengthen the effectiveness of its AML/CFT regime. At its June 2021 Plenary, the FATF has made the initial determination that Mauritius has substantially completed its action plan and warrants an on-site assessment to verify that the implementation of Mauritius’s AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future. Mauritius has made the following key reforms, including by: (1) conducting outreach to promote understanding of ML and TF risks and obligations; (2) developing risk-based supervision plans effectively for the Financial Services Commission; (3) ensuring access to accurate basic and beneficial ownership information by competent authorities in a timely manner; and (4) providing training for law enforcement authorities to ensure that they have the capability to conduct money laundering investigations. The FATF will continue to monitor the COVID-19 situation and conduct an on-site visit soon.
