The Financial Intelligence and Anti-Money Laundering Act 2002

The internet version of this Act is for information only. The authoritative version is the one published in the Government Gazette of Mauritius.

THE FINANCIAL INTELLIGENCE AND ANTI-MONEY LAUNDERING ACT

Act 6/2002

Proclaimed by [Proclamation No. 31 of 2002] w.e.f. 10 June 2002

ARRANGEMENT OF SECTIONS

Section

PART I PRELIMINARY

Short title
Interpretation

PART II - MONEY LAUNDERING OFFENCES

– 8. - Repealed

PART III THE FINANCIAL INTELLIGENCE UNIT

Establishment of FIU
Functions of the FIU
10A. Temporary suspension of suspicious transaction
Exercise of functions of FIU
The Board
Dissemination of information by Director
13A. Exemptions

PART IV - MEASURES TO COMBAT MONEY LAUNDERING AND THE FINANCING OF TERRORISM AND PROLIFERATION

Reporting of suspicious transaction by reporting person or auditor
14A. Cash transactions reports 14B. Electronic transfer of money to or from Mauritius 14C. Registration by reporting person
Lodging of reports of suspicious transactions
Legal consequences of reporting
Risk assessment
17A. Policies, controls and procedures

17B. Fictitious and anonymous accounts 17C. Customer due diligence requirements 17D. Third party reliance 17E. Existing customers 17F. Record keeping 17G. Obligation to report currency transactions 17H. High risk country
18. Regulatory action in the event of non-compliance
19. Offences relating to obligation to report and keep records and to disclosure of information prejudicial to a request
19EA. Establishment of Centralised Information Management System

PART IV A – CORE GROUP FOR ANTI-MONEY LAUNDERING AND COMBATTING THE FINANCING OF TERRORISM AND NATIONAL COMMITTEE FOR ANTI-MONEY LAUNDERING AND COMBATTING THE FINANCING OF TERRORISM AND PROLIFERATION

19A. Establishment of National Committee 19AA. Establishment of Core Group 19B. Functions of National Committee 19C. Meetings of the National Committee 19CA. Committees 19D. National risk assessment 19E. Duty to provide information for purpose of conducting risk assessment

PART IVB – SUPERVISION BY REGULATORY BODIES

Sub-Part A – Application of Part IVB

19F. Application
19FA. Application

Sub-Part B – Functions and Powers of Regulatory Body

19G. Functions of regulatory body 19H. Powers of regulatory body Sub-Part C – Supervisory Powers of Regulatory Body

19J. Request for information 19K. Inspections

Sub-Part D – Powers of Regulatory Body to Give Directions

19L. Directions by regulatory body 19M. Non-compliance with directions

Sub-Part E – Administrative Sanction and Compounding of Offences

19N. Administrative sanction 19P. Compounding of offences

Sub-Part F – Review Panel

19Q. Review Panel
19R. Staff of Review Panel 19S. Application for review 19T. Proceedings of Review Panel 19U. Powers of Review Panel 19V. Determination of Review Panel 19W. Offences relating to proceeding of Review Panel 19X. Judicial review 19Y. Application of Sub-part

Sub-Part IVC – Risk-based Approach by Supervisory Authority

19Z. Risk-based approach

PART V - PROVISION AND EXCHANGE OF INFORMATION IN RELATION TO MONEY LAUNDERING AND FINANCIAL INTELLIGENCE INFORMATION

Membership of International financial intelligence groups and provision of information to overseas financial intelligence units
Provision of information by FIU to investigatory authorities, supervisory authorities, Counterterrorism Unit, Real Estate Agent Authority, Financial Reporting Council or Registrars

Provision of information by supervisory authorities, Counterterrorism Unit, Real Estate Agent Authority, Financial Reporting Council or Registrars to FIU
22A. Domestic and international cooperation

PART VI - EXTRADITION IN RELATION TO CASES OF MONEY LAUNDERING

– 28.
Money laundering offence to be extraditable

PART VIA – ACCOUNTS, AUDIT AND ANNUAL REPORT - Added by [GN No. 27 of 2013]

29A. Accounting records 29B. Strategic plan and annual estimates 29C. Annual report 29D. Submission of annual report 29E. Disciplinary action for non-compliance 29F. Submission of annual report to the Minister

PART VII-MISCELLANEOUS

Confidentiality
Declaration of assets
Protection from liability
32A. Offence in respect of contravention of Act
Funding
- Repealed by [Act No. 27 of 2013]
Regulations
Consequential amendments
Commencement

First Schedule
Second Schedule
Third Schedule
Fourth Schedule

An Act

To provide for the establishment and management of a Financial Intelligence Unit and a Review Committee to supervise its activities; to provide for the offences of money laundering; to provide for the reporting of suspicious transactions; to provide for the exchange of information in relation to money laundering; to provide for mutual assistance with overseas bodies in relation to money laundering; and for matters connected therewith and incidental thereto.

ENACTED by the Parliament of Mauritius, as follows -

PART I - PRELIMINARY

1. Short title

This Act may be cited as the Financial Intelligence and Anti-Money Laundering Act 2002.

2. Interpretation

In this Act –

“AML/CFT” means anti-money laundering and combatting the financing of terrorism and proliferation;

“auditor” means a person licensed to practise as an auditor under the Financial Reporting Act;

“bank” –
(a) has the same meaning as in the Banking Act; and (b) includes – (i) a non-bank deposit taking institution licensed under the Banking Act; (ii) a licensee under the National Payment Systems Act;

“Bank of Mauritius” means the Bank of Mauritius established under the Bank of Mauritius Act;

Amended by [Act No. 14 of 2005]

“banking laws” has the same meaning as in the Banking Act;

“Board” means the Board of the Financial Intelligence Unit constituted under section 12;

“business relationship” means an arrangement between a person and a reporting person, where the purpose, or effect, of the arrangement is to facilitate the carrying out of transactions between the person and the reporting person on a frequent, an habitual or a regular basis;

"cash" -
(a) means money in notes or coins of Mauritius or in any other currency; and (b) includes any cheque which is neither crossed nor made payable to order, whether in Mauritian currency or in any other currency;

“cash dealer” has the same meaning as in the Banking Act;

Amended by [Act No. 14 of 2005]

“CDD” means customer due diligence;

“Code of Corporate Governance” has the same meaning as in the Financial Reporting Act;

“company service provider” –
(a) means a person, registered under section 164 or 167A of the Companies Act, that provides any of the services specified in section 167A of that Act; but (b) does not include – (i) a barrister, an attorney or a notary, or a law firm, foreign law firm, joint

venture or foreign lawyer under the Law Practitioners Act; (ii) a professional accountant, public accountant and member firm under the Financial Reporting Act; (iii) the holder of a management licence under section 77 of the Financial Services Act;

“Comparable Body” means an overseas Government agency with functions similar to those of the FIU;

“competent authorities” –

(a) has the same meaning as in the Financial Crimes Commission Act 2023; and

(b) includes Registrars;

“Core Group” means the Core Group for AML/CFT established under section 19AA of the Act;

“Counterterrorism Unit” means the Counterterrorism Unit referred to in section 18 of the Prevention of Terrorism Act;

“credit union” means a society registered as such under the Co-operatives Act, the objects of which are to promote thrift among, and provide credit to, its members;

"crime" –

(a) means an offence punishable by –

(i) penal servitude;
(ii) imprisonment for a term exceeding 10 days; (iii) a fine exceeding 5,000 rupees;

(b) includes
(i) an activity carried on outside Mauritius and which, had it taken place in Mauritius, would have constituted a crime; and

(ii) an act or omission which occurred outside Mauritius but which, had it taken place in Mauritius, would have constituted a crime;

“dealer in jewellery, precious stones or precious metals” –

(a) means a person who deals in jewellery, precious stones or precious metals; and

(b) includes a person who –
(i) manufactures, processes, buys, sells, imports or exports jewellery, or supplies jewellery for sale; (ii) processes, buys, sells or imports precious metals, or exports melted precious metals; or (iii) processes, buys, sells or imports precious stones;

“digital identification system” means an identification system that uses digital technology throughout the identity lifecycle, including for data capture, validation, storage, transfer, credential management and identity verification and authentication;

“Director” means the Director of the FIU appointed under section 9 (2); Added by [Act No. 34 of 2003]

“estimates of expenditure” has the same meaning as in the Finance and Audit Act;

“estimates of income” has the same meaning as in the Finance and Audit Act;

“express trust” –
(a) means a trust clearly created by the settlor, usually in the form of a document; and (b) includes a written deed of trust;

“Financial Action Task Force” means the independent international standard setter which develops and promotes policies to protect the global financial system against money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction, amongst others;

“Financial Crimes Commission” means the Financial Crimes Commission established under the Financial Crimes Commission Act 2023;

“financial group” means a group which consists of a parent company or of any other entity exercising control and coordinating functions over the rest of the group for the application of group supervision under the core principles, together with branches or subsidiaries that are subject to anti-money laundering and combatting the financing of terrorism and proliferation policies and procedures at the group level;

“financial institution” –
(a) means –
(i) an institution or a person licensed, registered or authorised under –

(A) the Captive Insurance Act;

(B) section 14, 77, 77A or 79A of the Financial Services Act;

(D) section 12 of the Private Pension Schemes Act;

(E) the Securities Act, other than an entity registered as a reporting issuer under that Act and which does not conduct any financial activities;

(F) the Trusts Act as a qualified trustee;

(G) the Variable Capital Companies Act 2022; or

(H) the Virtual Asset and Initial Token Offering Services Act 2021; or

(ii) a credit union; but

(b) does not include the holders of licences, and categories of licensees, listed in the Fifth Schedule;

Amended by [Act No. 3 of 2026]

“Financial Reporting Council” means the Financial Reporting Council established under section 3 of the Financial Reporting Act;

“financial services” has the same meaning as in the Financial Services Act;

"Financial Services Commission" means the Commission established under the Financial Services Act;

Amended by [Act No. 14 of 2007]; [Act No. 3 of 2022]

“financial statements”, in relation to a financial year –

(a) means –

(i) a statement of financial position;
(ii) a statement of financial performance;

(iii) a statement of changes in net assets or equity; (iv) a cash flow statement; and (v) a statement of comparison of annual estimates and actual amounts; and

(b) includes notes, comprising a summary of significant accounting policies and other explanatory notes;

“financial year” has the meaning assigned to it by section 2A of the Finance and Audit Act;

"FIU" means the Financial Intelligence Unit established under section 9 (1);

“guidelines” includes codes, guidance notes, practice notes and other similar instruments issued by a supervisory body;

“high risk country” means a jurisdiction identified under section 17H;

“IFAC” has the same meaning as in the Financial Reporting Act;

“internal controller” has the same meaning as in the Cooperatives Act;

“investigatory authority” has the same meaning in the Financial Crimes Commission Act 2023;

“jewellery” means any article made of a precious metal or its alloy, and which exceeds one gramme;

“legal arrangement” means an express trust or any other similar arrangement;

“legal person” –
(a) means any entity, other than a natural person; and (b) includes a company, a foundation, an association, a limited liability partnership or such other entity as may be prescribed;

“Mauritius Revenue Authority” means the Mauritius Revenue Authority established under the Mauritius Revenue Authority Act;

“member firm” means a person registered under section 54 of the Financial Reporting Act, other than an audit firm registered under section 35 of the Act;

“member of a relevant profession or occupation” means a person specified in column 1 of Part I of the First Schedule and performing any transaction in the manner specified in Part II of that Schedule;

Amended by [Act No. 23 of 2003]; [Act No. 9 of 2007]; [Act No. 14 of 2007]; [Act No. 17 of 2007]; [Act No. 27 of 2012]

"Minister" means the Minister to whom responsibility for the subject of anti-money laundering and combatting the financing of terrorism and proliferation is assigned;

“Ministry” means the Ministry responsible for the subject of anti-money laundering and combatting the financing of terrorism and proliferation;

“money laundering offence” means an offence specified in Sub-part II of Part III of the Financial Crimes Commission Act 2023;

“National Committee” means the National Committee for Anti- Money Laundering and Combating the Financing of Terrorism established under section 19A; Added by [Act No. 34 of 2003]

“non-profit organisation” means a legal person, a legal arrangement or an organisation that primarily engages in raising or disbursing funds for purposes such as charitable, religious, cultural, educational, social or fraternal purposes, or for the carrying out of other types of good works in accordance with its stated purpose; Added by [Act No. 3 of 2026]

“officer” includes the Director, an employee, an agent and a legal representative;

"overseas country" means a country or territory outside Mauritius;

"overseas financial intelligence units" means the financial intelligence units constituted in overseas countries and whose functions correspond to some or all of those of the FIU;

“precious metal” –
(a) means gold, silver, platinum or palladium; and (b) includes any object which is composed of gold, silver, platinum or palladium;

“precious stone” means diamond, sapphire, ruby, emerald, alexandrite or tanzanite;

“Principal Co-operative Auditor” has the same meaning as in the Co-operatives Act;

“proliferation” means –
(a) the manufacture, production, possession, acquisition, stockpiling, storage, development, transportation, sale, supply, transfer, import, export, transshipment or use of – (i) nuclear weapons; (ii) chemical weapons; (iii) biological weapons; (iv) such other materials, as may be prescribed, which are related to nuclear weapons, chemical weapons or biological weapons; or (b) the provision of technical training, advice, service, brokering or assistance related to any of the activities specified in paragraph (a);

“proliferation financing”, in relation to a person, means the person who – (a) makes available an asset; (b) provides a financial service; or (c) conducts a financial transaction; and

knows that, or is reckless as to whether, the asset, financial service or financial transaction is intended to, in whole or in part, facilitate proliferation regardless of whether the specified activity occurs or is attempted;

“proliferation financing risk” refers strictly and only to the potential breach, non-implementation or evasion of the targeted financial sanctions obligations under the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act and Recommendation 7 of the Financial Action Task Force international standards on AML/CFT; Added by [Act No. 3 of 2026]

“property” has the same meaning as in the Financial Crimes Commission Act 2023;

“Real Estate Agent Authority” means the Real Estate Agent Authority established under section 3 of the Real Estate Agent Authority Act 2020;

“Registrars” means the Registrar of Associations, Registrar of Companies and the Registrar of Foundations, the Registrar of Companies;

“regulatory body”, in relation to the member of a relevant profession or occupation or an entity, specified in the first column of Part I of the First Schedule, means the corresponding body or person specified in the second column of Part I of that Schedule;

"relevant enactments" means this Act, the Banking Act, the Bank of Mauritius Act, the Financial Services Act, the Financial Crimes Commission Act 2023 and the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019; Amended by [Act No. 14 of 2005]; [Act No. 14 of 2007]

“reporting person” means a bank, financial institution, cash dealer or member of a relevant profession or occupation;

“Review Panel” means the Review Panel referred to in section 19Q;

“settlor” means a natural or legal person that transfers ownership of his or its assets to trustees by means of a trust deed or any other similar arrangement;

“supervisory authorities” –

(a) means –

(i) the Bank of Mauritius;
(ii) the Financial Services Commission;
(iii) the Registrar of Co-operative Societies under the Co-operatives Act; and

(b) includes a regulatory body specified in the second column of Part I of the First Schedule;

"suspicious transaction" means a transaction which –

(a) gives rise to a reasonable suspicion that it may involve– (i) the laundering of money or the proceeds of any crime; or (ii) funds linked or related to, or to be used for, the financing of terrorism or proliferation financing, or any other activities or transaction related to terrorism as specified in the Prevention of Terrorism Act or under any other enactment, whether or not the funds represent the proceeds of a crime;

(b) is made in circumstances of unusual or unjustified complexity;

(d) is made by or on behalf of a person whose identity has not been established to the satisfaction of the person with whom the transaction is made; or

(e) gives rise to suspicion for any other reason.

“transaction” includes –

(a) opening an account, issuing a passbook, renting a safe deposit box, entering into a fiduciary relationship, a transaction undertaken by a member of a relevant profession or occupation under Part II of the First Schedule, or establishing any other business relationship, whether electronically or otherwise; and

(b) a proposed transaction or an attempted transaction; Amended by [Act No. 3 of 2026]

“virtual asset” has the same meaning as in the Virtual Asset and Initial Token Offering Services Act 2021; Added by [Act No. 3 of 2026]

“virtual asset service provider” has the same meaning as in the Virtual Asset and Initial Token Offering Services Act.
Added by [Act No. 3 of 2026]

Amended by: [Act No. 23 of 2003]; [Act No. 34 of 2003]; [Act No. 14 of 2005]; [Act No. 22 of 2005]; [Act No. 9 of 2007]; [Act No. 17 of 2007]; [Act No. 14 of 2007]; [Act No. 14 of 2009]; [Act No. 20 of 2011]; [Act No. 38 of 2011]; [Act No. 27 of 2012]; [Act No. 27 of 2013]; [Act No. 29 of 2015]; [Act No. 18 of 2016]; [Act No. 11 of 2018]; [Act No. 9 of 2019]; [Act No. 5 of 2020]; [Act No. 10 of 2020]; [Act No. 15 of 2021]; [Act No. 21 of 2021]; [Act No. 3 of 2022]; [Act No. 20 of 2023]; [Act No. 10 of 2024]; [Act No. 3 of 2026] w.e.f 18 April 2026

PART II - MONEY LAUNDERING OFFENCES

3. – 8. – Repealed by [Act No. 20 of 2023]

Amended by [Act No. 14 of 2009]; [Act No. 5 of 2020]; [Act No. 34 of 2004]; [Act No. 15 of 2006]; [Act No. 27 of 2012]; [Act No. 15 of 2021]; [Act No. 9 of 2020]; [Act No. 9 of 2019]

PART III - THE FINANCIAL INTELLIGENCE UNIT

9. Establishment of the FIU

(1) There is established for the purposes of this Act a Financial Intelligence Unit which shall have all the powers necessary to administer, and discharge its functions under, this Act.

(2) The head of the FIU shall be the Director who shall be a person of high repute with substantial experience in the financial services industry or law enforcement and experience in management and accounting and appointed by the President on the recommendation of the Prime Minister in consultation with the Leader of the Opposition, on such terms and conditions as the Prime Minister may determine.

(3) The Director shall be responsible for the administration and management of the FIU and shall be assisted by such persons as may be appointed by the Director to assist him.

(4) In the discharge of his functions and the exercise of his powers under this Act, the Director shall act without fear or favour and, subject to section 12, shall not be subject to the direction or control of any other person or authority other than, in matters of discipline, the President acting on the advice of the Prime Minister.

(5) The FIU shall, in the discharge of its functions under this Act, not be subject to the direction or control of any person or authority.
Added by [Act No. 3 of 2026]

Amended by [Act No. 27 of 2012]; [Act No. 27 of 2013]; [Act No. 3 of 2026] w.e.f 18 April 2026

10. Functions of the FIU

(1) The FIU shall be the central agency in Mauritius responsible for receiving, requesting, analysing and disseminating to the investigatory and supervisory authorities, the Counterterrorism Unit and Registrars disclosures of information -

(a) concerning suspected proceeds of crime and alleged money laundering offences;

(b) required by or under any enactment in order to counter money laundering; or

Amended by [Act No. 34 of 2003]; [Act No. 3 of 2026]

(2) For the purposes of this Act, the FIU shall -

(a) collect, process, analyse and interpret all information disclosed to it and obtained by it under the relevant enactments;

(b) inform, advise and co-operate with the investigatory and supervisory authorities , the Counterterrorism Unit and Registrars;

(ba) issue guidelines to members of a relevant profession or occupation falling under its purview on measures to combat money laundering, financing of terrorism and proliferation;

(c) issue guidelines to auditors, reporting persons and internal controllers of credit unions as to the manner in which –

(i) a report under section 14 shall be made; and

(ii) additional information may be supplied to FIU, on a suspicious transaction, pursuant to a request made under section 13(2), (3) or (6);

(d) & (e) – Deleted by [Act No. 34 of 2003]

(f) exchange information with overseas financial intelligence units and comparable bodies;

(g) undertake, and assist in, research projects in order to identify the causes of money laundering and terrorist financing and its consequences;

(h) perform such other functions or powers as are conferred on it under this Act or any other enactment.
Amended by [Act No. 3 of 2026]

(3) - (7) Deleted by [Act No. 9 of 2019]

Amended by [Act No. 34 of 2003]; [Act No. 15 of 2006]; [Act No. 20 of 2011]; [Act No. 27 of 2012]; [Act No. 27 of 2013]; [Act No. 29 of 2015]; [Act No. 18 of 2016]; [Act No. 9 of 2019]; [Act No. 5 of 2020]; [Act No. 3 of 2026] w.e.f 18 April 2026

10A. Temporary suspension of suspicious transaction

(1) The FIU may, in writing, order a reporting person to temporarily suspend the performance of a suspicious transaction where –

(a) the FIU has to urgently verify the data on the suspicious transaction, any person or funds or collection of additional data, information or documentation in Mauritius or abroad; or

(b) the FIU has reasonable grounds to believe that the transaction, person or funds are related to money laundering, terrorist financing or proliferation financing, or any related predicate offence.

(2) Subject to subsection (3), a temporary suspension under subsection (1) shall be for a period not exceeding 72 hours from the time of the issuance of the order to the reporting person.

(3) Where the deadline referred to in subsection (2) falls on a Sunday, public holiday or non-working day of the FIU, the temporary suspension shall be for a period not exceeding 120 hours from the time of the issuance of the order to the reporting person.

(4) The FIU may, on good cause shown, apply to a Judge to extend the duration of

the temporary suspension of the performance of the suspicious transaction under subsection (1) for an additional period of 72 hours or such other period as the Judge thinks fit in the interests of justice.

(5) The FIU may request a reporting person to furnish additional information on a temporarily suspended transaction, and the reporting person shall furnish that information within 24 hours from the time of the request.

(6) The FIU shall, without delay, inform the Financial Crimes Commission of the issue of an order under this section for the exercise of any function, duty or power it may deem appropriate under the Financial Crimes Commission Act 2023.

(7) The FIU may, at any time prior to the expiry of an order issued under this section, terminate the order where it considers that there are no reasons for maintaining the temporary suspension of the performance of the suspicious transaction and shall, without delay, inform the reporting person and the Financial Crimes Commission of the termination of the order.

(8) Any reporting person, its officers or its agents shall not disclose to any person that the FIU has issued an order, including the termination of an order, under this section.
Added by [Act No. 3 of 2026] w.e.f 18 April 2026

11. Exercise of functions of the FIU

(1) The functions of the FIU shall be exercised by the Director or such of the persons appointed under section 9 (3) as the Director may determine.

(2) In furtherance of the functions of the FIU, the Director shall consult with and seek such assistance from such persons in Mauritius concerned with combating money laundering, including law officers, the Police and other Government agencies and reporting persons or auditors, as the FIU considers desirable.

Amended by [Act No. 5 of 2020]

12. The Board

(1) There is set up for the purposes of this Act a Board which shall consist of -

(a) a Chairperson, who shall be a person who has -

(i) served as a Judge of the Supreme Court; or

(ii) served as a Magistrate, or been a law officer or practised as a barrister, in Mauritius for at least 10 years;

(b) 2 other members of high repute, of whom one shall be a person with substantial experience in the legal profession and the other shall be a person with substantial experience in the financial services industry.

(2) The Chairperson and members of the Board shall be appointed by the President on the recommendation of the Prime Minister made in consultation with the Leader of the Opposition.

(3) The appointment of the Chairperson and each member of the Board shall be on such terms as may be specified in the instrument of appointment of the Chairperson and each such member.

(4) The Board may act notwithstanding the absence of one of its members.

(5) The functions of the Board shall be to –

(a) keep under overall review the manner in which the FIU discharges its functions under this Act and to formulate the necessary policies for implementation by the Director with a view to achieving the objects of the FIU;

(b) review and approve the budgetary estimates of the FIU;

(d) advise the Director on matters relating to the discharge by the FIU of its functions; and

(e) consider the annual report of the FIU and report to the Minister on any matter appearing in or arising out of such report.

(6) The Board shall not have the power to consider, discuss or deliberate on any matter relating to the lodging, analysing, reporting, requesting or disseminating of information in respect of any suspicious transaction report, nor will it have access to information concerning any suspicious transaction report.

(7) Subject to subsections (4) to (6), the Board shall determine its own procedure.

Amended by [Act No. 34 of 2003]; [Act No. 27 of 2012]; [Act No. 27 of 2013]

13. Dissemination of information by Director - Amended by [Act No. 27 of 2012]

(1) Where there are grounds to suspect money laundering, predicate offences, terrorism financing or proliferation financing, the Director shall disseminate information and the results of the analysis of the FIU to the relevant investigatory authority, supervisory authority, overseas financial intelligence unit, the Counterterrorism Unit, Registrars or comparable body for appropriate action.

Amended by [Act No. 3 of 2026]

(2) Where a report of a suspicious transaction is made under section 14, the Director may, for the purpose of assessing whether any information should be disseminated to investigatory or supervisory authorities, the Counterterrorism Unit or Registrars, request further information in relation to the suspicious transaction from –

(a) the reporting person or auditor who made the report; and

(b) a reporting person or an auditor who is, or appears to be, involved in the transaction.

(3) Where –

(a) FIU becomes aware of any information which gives rise to a reasonable suspicion that a money laundering offence, terrorism financing offence or proliferation financing offence might have been committed or is about to be committed; or

Amended by [ Act No. 3 of 2026]

(b) a request for information is made by any investigatory or supervisory authority, Government agency, the Counterterrorism Unit, Registrars or overseas financial intelligence unit or comparable body,

the Director may, notwithstanding section 64 of the Banking Act or any other enactment, for the purposes of assessing whether any information should be disseminated to the investigatory or supervisory authority, Government agency, the Counterterrorism Unit, Registrars or overseas financial intelligence unit or comparable body, request further information in relation to the suspicious transaction from any reporting person or auditor who is involved, or appears to be involved, in the transaction.

(4) Where a reporting person or an auditor receives a request for information under subsection (2) or (3), the reporting person or auditor shall, notwithstanding section 300 of the Criminal Code and any other enactment, furnish FIU with the requested information promptly but not later than 15 working days after the request,.

(5) Where a report of a suspicious transaction is made under section 14, the Director shall, by written notice, require the reporting person or auditor to keep the records in respect of that suspicious transaction for such period as may be specified in the notice.

(6) The Director may, for the purposes of this Act, request a reporting person or an auditor to inform him whether –

(a) a person is or has been a client of the reporting person or auditor;

(b) a person is acting or has acted on behalf of any client of the reporting person or auditor; or

(7) A reporting person or an auditor shall comply with the request made under subsection (6), within such time as may be specified in the request.

(8) Any reporting person or auditor, or any director, employee, agent or legal representative of a reporting person or auditor who –

(a) fails to supply any information requested by FIU under section 13(2), (3) or (6) by the date specified in the request; or

(b) falsifies, conceals, destroys or otherwise disposes of, or causes or permits the falsification, concealment, destruction or disposal of, any information, document or material which is or is likely to be relevant to a request under section 13(2), (3) or (6),

shall commit an offence and shall, on conviction, be liable to a fine not exceeding one million rupees and to imprisonment for a term not exceeding 5 years.

Amended by [Act No. 34 of 2003]; [Act No. 20 of 2011]; [Act No. 27 of 2012]; [Act No. 27 of 2013]; [Act No. 9 of 2019]; [Act No. 5 of 2020]; [Act No. 10 of 2024]; [Act No. 3 of 2026] w.e.f 18 April 2026

13A. Exemptions

Notwithstanding any other enactment, no registration duty or fee shall be payable in respect of any document signed or executed by FIU under which FIU is a beneficiary.

Added by [Act No. 12 of 2023]

PART IV – MEASURES TO COMBAT MONEY LAUNDERING AND THE FINANCING OF TERRORISM AND PROLIFERATION

Amended by [Act No. 3 of 2026] w.e.f 18 April 2026

14. Reporting of suspicious transaction by reporting person or auditor

(1) Notwithstanding section 300 of the Criminal Code and any other enactment, every reporting person or auditor shall, as soon as he becomes aware of a suspicious transaction, make a report to FIU of such transaction promptly but not later than 5 working days after the suspicion arose.

(1A) FIU shall provide feedback, in any manner that it may determine, to reporting persons and relevant supervisory authorities in relation to the obligations specified in subsection (1).

(1B) A feedback under subsection (1A) shall be of a general nature and shall not be construed to be a substitute for the reporting person’s own internal screening mechanisms.

(1C) For the purpose of subsection (1), the burden of reporting a suspicious transaction to FIU shall, in the case of a credit union, be on the internal controller of the credit union.

(2) Repealed by [Act No. 5 of 2020]

(3) Where a reporting person or an auditor –
(a) becomes aware of a suspicious transaction; or (b) ought reasonably to have become aware of a suspicious transaction,

and he fails to make a report to FIU of such transaction not later than 5 working days after the suspicion arose he shall commit an offence and shall, on conviction, be liable to fine not exceeding one million rupees and to imprisonment for a term not exceeding 5 years.

Amended by [Act No. 27 of 2013]; [Act No. 18 of 2016]; [Act No. 11 of 2018]; [Act No. 9 of 2019]; [Act No. 5 of 2020]; [Act No. 10 of 2024]

14A. Cash transaction reports

Every reporting person shall, within the prescribed time, report to FIU the prescribed particulars of any transaction in excess of the prescribed amount.

14B. Electronic transfer of money to or from Mauritius

Where a reporting person sends money through electronic transfer in excess of the prescribed amount out of Mauritius or he receives money in excess of the prescribed amount from outside Mauritius on behalf, or on the instruction of, another person, he shall, within the prescribed period after the money was transferred, report the transfer, together with the prescribed particulars, to FIU.

Added by [Act No. 11 of 2018]

14C. Registration by reporting person

Every reporting person or auditor shall, within such time and in such form and manner as may be prescribed, register with FIU.

Amended by [Act No. 9 of 2019]; [Act No. 5 of 2020]

15. Lodging of reports of suspicious transactions

(1) Every report under section 14 shall be lodged with the FIU.

(2) For the purposes of this Part, every report shall be in such form as the FIU may approve and shall include -

(a) the identification of the party or parties to the transaction;

(b) the amount of the transaction, the description of the nature of the transaction and all the circumstances giving rise to the suspicion;

(d) where the suspect is an insider, any information as to whether the suspect is still affiliated with the reporting person or auditor;

(e) any voluntary statement as to the origin, source or destination of the proceeds;

(f) the impact of the suspicious activity on the financial soundness of the reporting institution or person; and

(g) the names of all the officers, employees or agents dealing with the transaction.

(3) No report of a suspicious transaction shall be required to be disclosed, or be admissible as evidence, in any court proceedings.

Amended by [Act No. 27 of 2012]; [Act No. 27 of 2013]; [Act No. 5 of 2020]

16. Legal consequences of reporting

(1) Subject to subsection (3), any reporting person and auditor, and any of their officers shall not disclose to any person that a suspicious transaction report is being or has been filed, or that related information is being or has been requested by, furnished or submitted to FIU.

(1A) Notwithstanding subsection (1), any supervisory authority may, for the sole purpose of discharging its compliance functions, request the FIU to provide it with a copy of the suspicious transaction report made under section 14(1).

(2) No proceedings shall lie against any person for having -

(a) reported in good faith under this Part any suspicion he may have had, whether or not the suspicion proves to be well founded following investigation or prosecution or any other judicial action;

(b) supplied in good faith any information to FIU pursuant to a request made under section 13(2), (3) or (6).

(3) No reporting person and its officers who receives or shares a report made under this Part shall incur liability for –

(a) any breach of confidentiality for any disclosure made in compliance with this Act, or to assist its supervisory authority in the discharge of its functions under this Act;

(b) any disclosure made for compliance, audit or AML/CFT functions

within the reporting person or at group level, provided that adequate safeguards on the confidentiality and use of information exchanged, including safeguards to prevent tipping-off, are in place within the group.

(3A) Any person who fails to comply with subsection (1) shall commit an offence and shall, on conviction, be liable to a fine not exceeding 5 million rupees and to imprisonment for a term not exceeding 10 years.

(4) For the purposes of this section –

“officer” includes a director, employee, agent or other legal representative.

Amended by [Act No. 34 of 2003]; [Act No. 27 of 2013]; [Act No. 9 of 2019]; [Act No. 5 of 2020]; [Act No. 10 of 2024]

17. Risk assessment

(1) Every reporting person shall –

(a) take appropriate steps to identify, assess and understand the money laundering, terrorism financing and proliferation financing risks for customers, countries or geographic areas and products, services, transactions or delivery channels; and

(b) consider all relevant risk factors before determining what is the level of overall risk and the appropriate level and type of mitigation to be applied.
Amended by [Act No. 3 of 2026]

(2) The nature and extent of any assessment of money laundering, terrorism financing and proliferation financing risks under subsection (1) shall be appropriate having regard to the nature and size of the business of the reporting person and shall take into account –

(a) all relevant risk factors including –

(i) the nature, scale and complexity of the reporting person’s activities; (ii) the products and services provided by the reporting person; (iii) the persons to whom and the manner in which the products and services are provided; (iv) the nature, scale, complexity and location of the customer’s activities; (v) reliance on third parties for elements of the customer due diligence process; and (vi) technological developments; and

(b) the outcome of any risk assessment carried out at a national level and any guidance issued.

(2A) The process of reporting persons to identify, assess, monitor, manage and mitigate proliferation financing-risks may be done within the framework of their existing targeted financial sanctions or compliance programmes, or both. Added by [Act No. 3 of 2026]

(3) Prior to the launch of a new product or business practice or the use of a new or developing technology, a reporting person or a supervisory authority shall identify and assess the money laundering, terrorism financing or proliferation financing risks that may arise in relation to such new products or business practices, or new or developing technologies for both new and pre-existing products, and take appropriate measures to manage and mitigate these risks.

(4) Every reporting person shall document the risk assessments in writing, keep it up to date and, on request, make it available to relevant competent authorities without delay.

(5) A supervisory authority may determine that risk assessments are not required to

be documented by its respective reporting persons, provided that the specific risks inherent to the sector are clearly identified and understood and that each reporting person understands its money laundering, terrorism financing or proliferation financing risks. Added by [Act No. 3 of 2026]

Amended by [Act No. 14 of 2009]; [Act No. 27 of 2012]; [Act No. 11 of 2018]; [Act No. 9 of 2019]; [Act No. 3 of 2026] w.e.f 18 April 2026

17A. Policies, controls and procedures

(1) Every reporting person shall –

(a) establish policies, controls and procedures, consistent with this Act and any guidance from competent authorities, to mitigate and manage effectively the risks of money laundering, terrorism financing or proliferation financing identified in any risk assessment undertaken by the reporting person under section 17 or in the national risk assessment conducted under section 19D; Repealed & replaced by [Act No. 3 of 2026]

(b) monitor the implementation of, regularly review, update and, where necessary, enhance the, policies, controls and procedures established under paragraph (a);

(i) the policies, controls and procedures established under paragraph (a); (ii) any changes to those policies, controls and procedures made as a result of the review and update required under paragraph (b); and (iii) the steps taken to communicate those policies, controls and procedures, or any changes to them, internally.

(2) The policies, controls and procedures adopted under paragraph (1) shall be proportionate to the size and nature of the business of a reporting person, as the case may be, and approved by its senior management.

Amended by [Act No. 11 of 2018]; [Act No. 9 of 2019]; [Act No. 3 of 2026] w.e.f 18 April 2026

17B. Fictitious and anonymous accounts

A reporting person shall not establish or maintain an anonymous account or an account in a fictitious name.

Amended by [Act No. 11 of 2018]

17C. Customer due diligence requirements

(1) A reporting person shall undertake CDD measures as may be prescribed, and in the following circumstances –

(a) when opening an account for, or otherwise establishing a business relationship with, a customer;

(b) where a customer who is neither an account holder nor in an established business relationship with the reporting person wishes to carry out –

(i) a transaction in an amount equal to or above 500, 000 rupees or an equivalent amount in foreign currency or such amount as may be prescribed, whether conducted as a single transaction or several transactions that appear to be linked; or

(ii) a domestic or cross-border wire transfer;

(d) whenever there is a suspicion of money laundering or terrorism financing involving the customer or the customer’s account;

(e) where the reporting person is a virtual asset service provider under the Virtual Asset and Initial Token Offering Services Act 2021, he shall –

(i) apply CDD measures in respect of an occasional transaction in an amount equal to or above 1,000 US dollars or an equivalent amount

in foreign currency where the exchange rate to be used to calculate the US dollar equivalent shall be the selling rate in force at the time of the transaction, whether conducted as a single transaction or several transactions that appear to be linked;

(ii) record, in respect of an occasional transaction in an amount below 1,000 US dollars –

(A) the name of the originator and the beneficiary; and (B) the virtual asset wallet address for each or a unique transaction reference number.

(1A) Subject to subsection (1), where a customer is not physically present, the reporting person shall undertake CDD measures, as may be appropriate, by means of such reliable and independent digital identification system.

(2) A reporting person shall, with respect to each customer and business relationship, when applying CDD measures take into account the outcome of the risk assessment required to be carried out under section 19D.

(3) Where the risks are higher, a reporting person shall conduct enhanced due diligence measures consistent with the risks identified.

(4) Where the risks are lower, a reporting person may conduct simplified due diligence measures, unless there is a suspicion of money laundering or terrorism financing in which case enhanced CDD measures shall be undertaken.

(5) In all cases, a reporting person shall apply such CDD measures as may be prescribed or specified by a supervisory authority.

(5A) The trustee of an express trust shall disclose his status as a trustee to a reporting person when forming a business relationship or carrying out an occasional transaction in an amount equal to or above 500,000 rupees or an equivalent amount in foreign currency.

(6) Any person who knowingly provides any false or misleading information to a reporting person in connection with CDD requirements under this Act or any guidelines issued under this Act shall commit an offence and shall, on conviction, be liable to a fine not exceeding 500, 000 rupees and to imprisonment for a term not exceeding 5 years.

Amended by [Act No. 11 of 2018]; [Act No. 9 of 2019]; [Act No. 21 of 2021]

17D. Third party reliance

(1) Subject to subsection (2), a reporting person may rely on third parties to perform CDD measures to comply with the requirements of section 17C, subject to such terms and conditions as may be prescribed.

(2) Notwithstanding any other provision of this Act, a reporting person relying on a third party shall remain responsible for compliance with the requirements under this Act.

Amended by [Act No. 11 of 2018]

17E. Existing customers

(1) A reporting person shall apply the CDD requirements to customers and beneficial owners with which it has a business relationship.
Amended by [Act No. 3 of 2026]

(2) The CDD requirements shall be applied at appropriate times and on the basis of materiality and risk, depending on the type and nature of the customer, the business relationship, products or transactions and taking into account whether and when CDD measures have previously been applied and the adequacy of the data obtained, or as may be specified in any guidelines issued under this Act.

(3) For the purpose of conducting CDD under subsection (1) –

“beneficial owner” –

(a) in the context of a legal person –

(i) refers to the natural person –

(A) who ultimately owns or controls a customer;

(B) on whose behalf a transaction is being conducted;

(ii) includes a natural person who exercises ultimate effective control over the legal person;

(b) in the context of a legal arrangement includes –

(i) the settlor;

(ii) the trustee;

(iii) the protector, if any;

(iv) each beneficiary, or where applicable, the class of beneficiaries and objects of a power; and

(v) any other natural person exercising ultimate effective control, including where ownership or control is exercised through a chain of ownership or control, over the legal arrangement;

(c) in the case of a legal arrangement similar to an express trust, refers to the natural person holding an equivalent position to those referred to in paragraph (b).

(d) where the trustee and any other party to the legal arrangement is a legal person, refers to the beneficial owner of that legal person;

(e) in the context of a beneficiary under a life or other investment linked insurance policy, refers to the natural person who ultimately owns or controls the beneficiary; or

(f) where there is doubt as to whether the natural person identified under paragraph (a) or where no natural person is identified as the beneficial owner of a legal person, reporting persons shall identify and take reasonable measures to verify the identity of the relevant natural person

who holds the position of senior managing official.
Repealed & replaced by [Act No. 3 of 2026]

Amended by [Act No. 11 of 2018]; [Act No. 3 of 2026] w.e.f 18 April 2026

17F. Record keeping

(1) A reporting person shall maintain all books and records with respect to his customers and transactions in accordance with subsection (2) and shall ensure that such records and books are kept for such time as specified in, and in accordance with, subsection (2).

(2) The books and records referred to in subsection (1) shall include –

(a) all records obtained through CDD measures, including account files, business correspondence and copies of all documents evidencing the identity of customers and beneficial owners, and records and the results of any analysis undertaken in accordance with this Act, all of which shall be maintained for a period of not less than 7 years after the business relationship has ended;

(b) records on transactions, both domestic and international, that are sufficient to permit reconstruction of each individual transaction for both account holders and non-account holders, which shall be maintained for a period of 7 years after the completion of the transaction; and

(c) copies of all suspicious transaction reports made pursuant to section 14 or other reports made to FIU in accordance with this Act, including any accompanying documentation, which shall be maintained for a period of at least 7 years from the date the report was made.

Added by [Act No. 11 of 2018]

17G. Obligation to report currency transactions

A reporting person shall, within the prescribed time limit, submit a report to FIU in the prescribed manner of any currency transaction in an amount equal to or above the prescribed amount, whether conducted as a single transaction or several transactions that appear to be linked.

Added by [Act No. 11 of 2018]

17H. High risk country

(1) Where a jurisdiction is identified by the Financial Action Task Force as having significant or strategic deficiencies in its AML/CFT measures, the Minister may, on the recommendation of the National Committee, identify that jurisdiction as a high risk country.

(2) A reporting person shall, with respect to business relationships or transactions involving a high risk country, apply such enhanced CDD measures as may be prescribed.

(3) In addition to subsection (2), a reporting person shall, where applicable and proportionate to the risks, apply one or more of the following additional mitigating measures to persons and legal entities carrying out transactions involving a high risk country –

(a) the application of additional elements of enhanced due diligence;

(b) the introduction of enhanced relevant reporting mechanisms or systematic reporting of financial transactions;

(c) the limitation of business relationships or transactions with natural persons or legal entities from the countries identified as high risk countries.

(4) Where the Minister identifies a high risk country under subsection (1), he shall, on the recommendation of the Financial Action Task Force or the National Committee, and having regard to the level of the risk, specify that one or more of the following countermeasures, and any other measures that have a similar effect in mitigating risks, shall apply to the high risk country –

(a) refusing the establishment of subsidiaries or branches or representative offices of reporting persons from the country concerned, or otherwise taking into account the fact that the relevant reporting person is from a country that does not have adequate AML/CFT systems;

(b) prohibiting reporting persons from establishing branches or representative offices in the high risk country, or otherwise taking into account the fact that the relevant branch or representative office would be in a country that does not have adequate AML/CFT systems;

(d) prohibiting reporting persons from relying on parties located in the country concerned to conduct elements of the CDD process;

(e) requiring reporting persons to review and amend, or if necessary terminate, correspondent banking and other similar relationships with institutions in the country concerned;

(f) requiring increased supervisory examination and external audit requirements for branches and subsidiaries of reporting persons based in the country concerned;

(g) requiring increased external audit requirements for financial groups with respect to any of their branches and subsidiaries located in the country concerned.

(5) FIU shall immediately disseminate to reporting persons in such manner as it may determine –

(a) any high risk country identified by the Minister under subsection (1);

(b) any countermeasures which are applicable on the country;

(d) any publicly available information published by the Financial Action Task Force on any jurisdiction which has been identified by it as having significant or strategic deficiencies in its AML/CFT measures.

Amended by [Act No. 9 of 2019]; [Act No. 10 of 2024]

18. Regulatory action in the event of non-compliance

(1) (a) The supervisory authorities may issue such guidelines as they consider appropriate to combat money laundering, terrorism financing and proliferation financing, to banks, cash dealers or financial institutions, subject to their supervision. Amended by [Act No. 3 of 2026]

(b) The Bank of Mauritius shall supervise and enforce compliance by banks and cash dealers with the requirements imposed by this Act, regulations made under this Act and such guidelines as it may issue under paragraph (a), and notwithstanding this Act, it shall, for that purpose, have access to all books, records and other information, in either physical or electronic form, maintained by banks and cash dealers.

(c) The Financial Services Commission shall supervise and enforce compliance by the financial institutions falling under its purview with the requirements imposed by this Act, regulations made under this Act and such guidelines as it may issue under paragraph (a), and notwithstanding this Act, it shall, for that purpose, have access to all books, records and other information, in either physical or electronic form, maintained by the financial institutions.

(2) (a) Where it appears to the Bank of Mauritius that a bank or cash dealer subject to its supervision has failed to comply with any requirement imposed under this Act, any regulation made under this Act or any code or guideline issued by it under subsection (1)(a), and that the failure is caused by a negligent act or an omission or by a serious defect in the implementation of any such requirement, the Bank of Mauritius, in the absence of any reasonable excuse, may –

(i) in the case of a bank, proceed against it under sections 11 and 17 of the Banking Act on the ground that it is carrying on business in a manner which is contrary to the interest of the public; or

(ii) in the case of a cash dealer, proceed against it under section 17 of the Banking Act on the ground that it is carrying on business in a manner which is contrary to the interest of the public.

(b) Notwithstanding paragraph (a), where a bank or cash dealer has failed to

comply with any requirement imposed under a code or guideline issued by the Bank of Mauritius under subsection (1)(a), the Bank of Mauritius may impose an administrative penalty on that bank or cash dealer which may be recovered by deduction from any balance of the bank or cash dealer with, or as money owing to, the Bank of Mauritius, as if it were a civil debt.

(c) When determining the quantum of the administrative penalty to be imposed under paragraph (b), the Bank of Mauritius shall consider the seriousness of the breach committed by the bank or cash dealer and the length of time during which the breach has been committed.

(d) Where the Bank of Mauritius intends to impose an administrative penalty under paragraph (b), it shall notify the bank or cash dealer, in writing, of –

(i) its intention to impose the administrative penalty, and the grounds for imposing such penalty;

(ii) the type and terms of the administrative penalty; and

(iii) the right of the bank or cash dealer to make written representations to the Bank of Mauritius within 21 days of the notice.

(e) Where, after considering the written representations under paragraph (d)(iii), the Bank of Mauritius is satisfied that the bank or cash dealer has contravened paragraph (a), or where no written representations are received, it shall impose the administrative penalty on the bank or cash dealer, as the case may be.

(f) Any bank or cash dealer that is dissatisfied with a decision of the Bank of Mauritius relating to the imposition of an administrative penalty under paragraph (e) may apply for a judicial review of the decision in accordance with Sub-part VIA of Part II of the Courts Act. Added by [Act No. 3 of 2026]

(3) Where it appears or where it is represented to the Financial Services Commission that any financial institution falling under its purview has refrained from complying, or has failed to comply, with any requirement imposed under this Act, any regulations made

under this Act or any guidelines issued by it under subsection (1)(a) or under the Financial Services Act, and that the failure has been caused by a negligent act, an omission or by a serious defect in the implementation of any such requirement, the Financial Services Commission may proceed against the financial institution under section 7 of the Financial Services Act.

(3A) - (4) Deleted by [Act No. 9 of 2019]

Amended by [Act No. 34 of 2003]; [Act No. 14 of 2005]; [Act No. 14 of 2007]; [Act No. 27 of 2012]; [Act No. 11 of 2018]; [Act No. 9 of 2019]; [Act No. 10 of 2024]; [Act No. 3 of 2026] w.e.f 18 April 2026

19. Offences relating to obligation to report and keep records and to disclosure of information prejudicial to a request

(1) Any reporting person, or any director, employee, agent or other legal representative of a reporting person who, knowingly or without reasonable excuse –

(a) fails to comply with section 17, 17A, 17B. 17C, 17D, 17E, 17F or 17G;

(b) destroys or removes any record, register or document which is required under this Act or any regulations; or

shall commit an offence and shall, on conviction, be liable to a fine not exceeding 10 million rupees and to imprisonment for a term not exceeding 5 years.

(2) Any person who -

(a) falsifies, conceals, destroys or otherwise disposes of or causes or permits the falsification, concealment, destruction or disposal of any information,

document or material which is or is likely to be relevant to a request under the Mutual Assistance in Criminal and Related Matters Act; or

(b) knowing or suspecting that an investigation into a money laundering, terrorism financing or proliferation financing offence has been or is about to be conducted, divulges that fact or other information to another person whereby the making or execution of a request to under the Mutual Assistance in Criminal and Related Matters Act,

shall commit an offence and shall, on conviction, be liable to a fine not exceeding one million rupees and to imprisonment for a term not exceeding 5 years.

Amended by [Act No. 3 of 2026]

Amended by [Act No. 34 of 2003]; [Act No. 15 of 2006]; [Act No. 27 of 2012]; [Act No. 27 of 2013]; [Act No. 11 of 2018]; [Act No. 9 of 2019]; [Act No. 5 of 2020]; [Act No. 3 of 2026] w.e.f 18 April 2026

19A Establishment of National Committee

(1) There is established for the purposes of this Act a National Committee for Anti-Money Laundering and Combating the Financing of Terrorism.

(2) The National Committee shall consist of –

(a) the supervising officer of the Ministry or his representative, who shall act as Chairperson:

Amended by

The Financial Intelligence and Anti-Money Laundering Act 2002

Lineage: In force

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