MAURITIUS’ AML/CFT INTERNATIONALLY CRITICIZED FOR SECRECY, PRIVACY LAWS
May 1st, 2013
THE INDIAN Ocean island state of Mauritius has a good reputation within Africa for effective financial regulation. But the country has been criticised recently for excessive banking secrecy and it has been exposed to some high profile fraud. As a result, its anti-money laundering (AML) regulators will have to work hard to ensure Mauritius maintains its good name as Africa’s Mr Clean in AML terms.The Financial Services Commission (FSC) of Mauritius has been under pressure recently, following a series of Ponzi schemes that have been plaguing the country since the ...
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