National Money Laundering and Terrorist Financing Risk Assessment of Mauritius (NRA Report)

Strong anti-money laundering (AML) and combatting the financing of terrorism (CFT) measures are imperative in protecting Mauritius as a leading International Financial Centre, recognised for its socio-economic stability, good governance and strong institutions.

Recommendation 1 of the Financial Action Task Force (FATF) calls upon countries to identify, assess and understand their money laundering and terrorist financing risks. It further states that countries should take action, including designating an authority or mechanism to coordinate actions to assess risks, and apply resources in order to ensure the risks are mitigated effectively.

The main objective of the first National Money Laundering and Counter Terrorism Financing Risk Assessment (NRA), was to provide Mauritius with an effective pathway to implementing a risk-based AML/CFT regime, through the efficient allocation of resources and the adoption of measures to prevent and mitigate money laundering and terrorism financing.

The NRA exercise for Mauritius was carried out using:

• the National Money Laundering and Terrorism Financing Risk Assessment Tool, developed and provided by the World Bank; and
• findings from the Mutual Evaluation Report of Mauritius, conducted by ESSSAMLG and published in July 2018, as they investigate the effectiveness of the country’s AML/CFT measures.

The NRA provides Mauritius with an opportunity to strengthen coordination amongst relevant authorities and government agencies, in order to effectively focus resources necessary in combatting money laundering and terrorism financing.

The NRA Report of Mauritius can be downloaded here.