Mauritius Unveils 24 New Legal Amendments to Avoid Global Financial Grey Listing

The Mauritian government is set to introduce a comprehensive legislative package to the National Assembly this Tuesday, 31 March, aimed at fortifying the nation against financial crime and preventing a return to international “grey lists.”

Financial Services Minister Jyoti Jeetun announced the introduction of the Anti-Money Laundering, Combatting the Financing of Terrorism and Countering Proliferation Financing (Miscellaneous Provisions) Bill, a move she described as a “great step forward” for the jurisdiction.

Strengthening the Legal Framework

The proposed legislation includes 24 distinct amendments designed to overhaul the country’s existing legal architecture.

These measures are specifically targeted at enhancing the fight against money laundering, terrorism financing, and the financing of weapons proliferation.

Minister Jeetun struck a reassuring tone regarding the nation’s standing with international regulatory bodies, stating:

“Mauritius is doing everything possible to avoid a return to the grey list of the FATF (Financial Action Task Force) and the ESAAMLG (Eastern and Southern Africa Anti-Money Laundering Group).”

Eyes on 2027 Evaluation

The legislative push is a strategic preparation for the country’s next mutual evaluation, scheduled for 2027 by the ESAAMLG.

By implementing these reforms now, the government intends to demonstrate a robust and effective framework for tackling financial illicit activity well ahead of the inspectors’ arrival.

The Bill represents a proactive effort to maintain the integrity of the Mauritian financial sector and ensure continued compliance with global standards set by the FATF.

Source: Defi Media