Abstract
Abstract This article reviews the statutory response given by Mauritius to its ‘grey-listing’ by the Financial Action Task Force (FATF). It analyses the various legislations that the government had to amend or create to become compliant with the international standards set by the FATF in the wake of combating money laundering and financing of terrorism. The statutory response of Mauritius to its grey-listing by FATF can be considered as a successful one giving that a significant number of laws had to be simultaneously and harmoniously changed to the satisfaction of the FATF in a considerably short period of time. Indeed, in October 2021, Mauritius was removed from the list of jurisdictions under enhanced monitoring, having been placed there in February 2020. Therefore, the expediency which Mauritius responded through laws and the effectiveness with which it managed to restore international business through its financial services sector can humbly serve as lessons or best practices to jurisdictions finding themselves in similar situations with the FATF.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
