GUIDELINE ON ANTI-MONEY LAUNDERING AND …

BANK OF MAURITIUS GUIDELINE ON ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND PROLIFERATION January 2020 I Table of Content Chapter 1 Introduction Chapter 2 Authority, purpose, scope of application and status of the GUIDELINE Chapter 3 Overview of the legislative framework Chapter 4 Risk-based approach Chapter 5 Internal Controls, policies and procedures Chapter 6 Customer due diligence / Identification Procedures Chapter 7 Ongoing monitoring Chapter 8 Terrorist financing, financial sanctions and proliferation financing Chapter 9 Reporting of Suspicious transactions Chapter 10 Record-keeping Chapter 11 Staff training 2 1. INTRODUCTION The ability to launder the proceeds of criminal activity through the financial system is a key element to the success of criminal operations. The unchecked use of the financial systems for this purpose has the potential to undermine individual financial institutions and, ultimately, the entire financial sector.

1.08 Mauritius has, further, committed itself to the FATF Forty Recommendations and to its Mutual Evaluation procedure. 1.09 Mauritius being a founder member of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG)5, which is an associate member of the FATF, participates in a self-

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