Mauritian Firm Censured for Operating Without Money Laundering Officer

The Financial Services Commission (FSC) of Mauritius has released a statement to inform the public that Thibaut International Management Ltd (TIML) has been publicly censured by the FSC’s Enforcement Committee.

TIML has reportedly been operating without an Alternate Money Laundering Reporting Officer or a Deputy Money Laundering Reporting Officer since 2013, which is a continual breach of paragraph 3.2 of the previously applicable Code on the Prevention of Money Laundering and Terrorist Financing.

This breach has also continued with Regulation 26(2) of the Financial Intelligence and Anti-Money Laundering Regulations 2018.

Source: FSC Mauritius