REPORTING OF SUSPICIOUS TRANSACTIONS

REPORTING OF SUSPICIOUS TRANSACTIONS

Financial institutions in Mauritius are under the statutory obligation to locate and report suspicious transactions (STRs) to the Financial Intelligence Unit (FIU) with the ultimate and overriding objective to counter Money Laundering (ML) and Terrorism Financing (TF)...
RECORD KEEPING – A MUST!

RECORD KEEPING – A MUST!

Recommendation 11 of the Financial Action Task Force (FATF) requires financial institutions to have proper and effective policies, procedures, and controls in place to ensure that record of transactions is maintained during, as well as, after the course of the...