Regulatory Alerts2007-09-13
Guideline on Internet Banking
The Bank of Mauritius issued this guideline to establish a regulatory framework for domestic and offshore banks offering internet banking services through informational, communicative, or transactional websites. Institutions must obtain prior written approval or provide one-month advance notification before launching these platforms, while submitting detailed business plans, security policies, risk management frameworks, and client charters. The document mandates robust security controls, continuous risk assessment, board and management oversight, and clear outsourcing protocols to mitigate strategic, transactional, compliance, and reputation risks.
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