Anti-Money Laundering Bill: 19 pieces of legislation will be amended : Orishas-finance

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Anti-Money Laundering Bill: 19 pieces of legislation will be amended

02/07/2020

Source : gafi

Categories: General Information

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The Anti-Money Laundering and Combatting the Financing of Terrorism (Miscellaneous Provisions) Bill 2020 provides for amendments to 19 pieces of legislation, including: the Banking Act; the Civil Status Act; the Companies Act; the Financial Intelligence and Anti-Money Laundering Act; the Financial Reporting Act; the Gambling Regulatory Authority Act; the Prevention of Corruption Act; and the Good Governance and Integrity Reporting Act. This is what emerges from the debates on the bills presented by the Minister of Financial Services and Good Governance, Mahen Seeruttun, to the National Assembly on Tuesday, June 30. The Minister wished to reassure investors as well as the international community of the seriousness of the Mauritian government in its fight against money laundering

money and against the financing of terrorism (AML / CFT). He pointed out that this bill is a new step to consolidate the local legal framework by bringing fundamental changes to the legislative framework of AML / CFT. He reiterated the government's commitment to comply with international AML/CFT standards. According to Mahen Seeruttun, this new law will help the country in its third request for technical compliance relating to the five remaining recommendations of the Financial Action Task Force ( FATF ) as well as in the implementation of the FATF action plan . He pointed out that under the FATF action plan , Mauritius has no technical shortcomings to correct and is focusing on optimizing its AML/CFT regime.

Minister of Financial Services and Good Governance, Mahen Seeruttun

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