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Money laundering: The International Cooperation Review Group of the FATF recommends the removal of Mauritius from the gray list

19/10/2021
Categories: Sectors

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Pending the official announcement which will be communicated on October 22 at the end of the plenary meeting of the Financial Action Task Force (FATF), voices are raised in favor of Mauritius. The FATF's International Cooperation Review Group recommends removing the country from the gray list.

The news concerning the Mauritian jurisdiction would relate to a possible recommendation of the International Cooperation Review Group, the decision-making body of the FATF. For the moment, Global Business operators such as government authorities do not wish to venture to confirm the news. The discovery of certain shortcomings and weaknesses in February 2020 put the Mauritian jurisdiction on the FATF gray list. Since then, Mauritius has submitted four progress reports to the FATF to demonstrate the progress made on the various strategic gaps identified. Thus, during the June 2021 plenary meeting, the FATF noted that the country has substantially completed its action plan and therefore justifies an on-site evaluation to verify the effectiveness of the reforms while insisting that the political commitment thereto remains to ensure the implementation of other reforms in the future. According to the schedule established by the FATF, once removed from the gray list, the Mauritian authorities will be able to submit a request to the European Union to withdraw this time from the black list.

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