Regulatory Alerts2018-10-05
Added · Updated
Financial Intelligence and Anti-Money Laundering Regulations 2018
Issued by the Minister of Mauritius under the Financial Intelligence and Anti-Money Laundering Act, these regulations establish comprehensive Customer Due Diligence obligations for reporting persons. They mandate the verification of customer and beneficial owner identities, require ongoing monitoring, and prescribe risk-based simplified or enhanced due diligence measures for varying business relationships. The framework further dictates record-keeping standards, specific protocols for politically exposed persons and cross-border wire transfers, and compulsory suspicious transaction reporting when due diligence cannot be completed.