GIS - 17 August, 2015: A Financial Crime Commission is being set up to bring harmonisation in the structure to fight against financial crime in Mauritius and to ensure better coordination and synergy amongst existing institutions.
This statement was made by the Prime Minister, Sir Anerood Jugnauth, at the opening ceremony of the Global Conference on Anti-Corruption Reform in Small Island Developing States (SIDS) today at Le Méridien Hotel, Pointe Aux Piments. The conference is organised by the Ministry of Financial Services, Good Governance and Institutional Reforms in collaboration with the United Nations Office on Drugs and Crime.
In his opening address the Prime Minister outlined that this initiative is expected to mitigate the risks of fraudsters exploiting loopholes in the functioning of institutions, which may have led to the recent cases of Ponzi schemes where many innocent but gullible persons could have lost their hard-earned money.
Prime Minster Jugnauth recalled that the main objective of this conference is to discuss challenges that Small Island Developing States face due to their size and geographic isolation in the fight against corruption. He added that the conference is an excellent opportunity to strengthen cooperation through an effective networking for sharing experiences but more so, identify best fit solutions to intensify the global fight against corruption and rise to the challenge.
According to Sir Anerood there is need to realise that corruption is a dynamic crime which changes pattern over time. Hence, its scope and complexity keep evolving as it develops, mutates, reacts and transforms to changing circumstances. Hence, the impact of corruption is high, more particularly on SIDS as it threatens sustainable development and the competitive environment, he added.
The Prime Minister concluded by stating that there is no magic formulae to eliminate corruption. But through strong regional and international cooperation and through synergy of efforts we can make a breakthrough and tackle this scourge right at its source, he said.
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