Regulatory Alerts2024-12-31
Instruction No. GR/2024 on Thresholds for Reporting Cash, Transfer and Mobile Banking Transactions to the Mauritanian Financial Investigations Unit
The Central Bank of Mauritania issued Instruction No. GR/2024 to establish mandatory reporting thresholds for cash, electronic wallet transfers, and bank transactions exceeding 1,000,000 to 2,000,000 Mauritanian Ouguiyas. Financial institutions must submit written suspicious transaction reports to the Mauritanian Financial Investigations Unit within two business days of detection, with enhanced due diligence applied to politically exposed persons and split transactions designed to circumvent the limits. The directive ensures strict confidentiality, grants good-faith immunity from civil and criminal liability to reporting entities, and takes immediate effect upon signature.
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