Mauritius EXITS the FATF List of Jurisdictions

Mauritius EXITS the FATF List of Jurisdictions under increased monitoring!

Mauritius has been taken off the grey list by the Financial Action Task Force (FATF), an inter-governmental body that sets anti-money laundering standards, while acknowledging the progress the island nation had made in its fight against money laundering and terrorist financing (AML/CFT) in the past few months.

Mauritius was put on the list by FATF in February 2020, and that had a significant impact on its credibility as a prudent and compliant jurisdiction. This list is often referred to as the “grey list”. Jurisdictions under increased monitoring actively work with the FATF to address strategic deficiencies.

Mauritius made a high-level commitment to work with the FAFT as well as the Eastern & Southern Africa Anti-Money Laundering Group (ESAAMLG) to strengthen the effectiveness of its AML/CFT regime and, since then, has worked tirelessly with key stakeholders and private sector representatives to address the various deficiencies.

This has helped Mauritius to emerge as a resilient jurisdiction that prioritizes transparency and adherence to international best practices and where the public and private sectors work together to support the very foundations of the country’s economy.

“The exit will reinvigorate the global business sector and enhance the competitiveness and attractiveness of Mauritius as a domicile of choice for cross-border investments into Asia and Africa,” said Rama Sithanen, chairman of Sanne Mauritius.

The Mauritius Government has also started the process of removing the jurisdiction from the European Union (EU) ’blacklist’ of high-risk countries.

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