Regulatory Alerts2019-01-01
Law No. 2019-017 on the Fight against Money Laundering and Terrorist Financing
The Islamic Republic of Mauritania's National Assembly and Presidency enacted Law No. 2019-017 to establish a comprehensive legal framework for combating money laundering and terrorist financing. The legislation defines key terms, establishes the roles of supervisory and competent authorities, and mandates financial institutions and designated non-financial businesses to implement risk-based due diligence, transaction monitoring, record-keeping, and suspicious activity reporting. It criminalizes money laundering and terrorist financing independently of underlying offenses, extends liability to legal persons, and enforces immediate compliance with targeted freezing measures and sanctions.
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