– 15 Feb 2019: The adoption of a new list of 23 countries with strategic deficiencies
in their anti-money laundering and counter-terrorist financing frameworks was
announced by the European Commission, in a Press Release issued on 13th
February 2019. Mauritius is not in the European Commission’s blacklist.
According to a communiqué
published by the Ministry of Finance and Economic Development yesterday, the
European Commission’s new list not only confirms that Mauritius has in place
the necessary legal framework and controls to prevent
money laundering and terrorist financing risks but also underscore the
effectiveness of their implementation.
Mauritius has recently
adopted a development strategy for its financial services sector which is based
on continuous improvement, transparency and compliance with international norms
and standards. It will continue to do so
to ensure the sound repute and credibility of our jurisdiction.
It is recalled
that the list has been established on the basis of an analysis of 54 priority jurisdictions, which was
prepared by the European Commission in consultation with the Member States and
made public on 13 November 2018. The countries assessed meet at least one of
the following criteria: they have systemic
impact on the integrity of the EU financial system; they are reviewed by the
International Monetary Fund as international offshore financial centres; and they have economic relevance and strong
economic ties with the EU.
For each country, the European Commission assessed the level of existing threat, the legal
framework and controls put in place to prevent money laundering and terrorist
financing risks and their effective implementation. It concluded that 23
countries have strategic deficiencies in their anti-money laundering/ counter
terrorist financing regimes.
The 23 jurisdictions are:
Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People's
Republic of Korea, Ethiopia, Ghana, Guam, Iran, Iraq, Libya, Nigeria, Pakistan,
Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and
Tobago, Tunisia, US Virgin Islands, and Yemen.
Government Information Service, Prime Minister’s
Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: email@example.com