NEWSROOM
BUDGET 2022-23 – REGULATORY COMPLIANCE SPOTLIGHT
We are delighted to present our Regulatory Compliance Snapshot of the Budget 2022-23. This year's budget speech as delivered by the Honourable Dr. Renganaden Padayachy, Minister of Finance, Economic Planning and Development, focused on several regulatory measures, in...
AML / CFT Updates – Amendments to the Financial Intelligence and Anti Money Laundering Act 2002
On the 16th of July 2021, the Ministry of Finance released the Finance (Miscellaneous Provisions) Bill to implement the measures announced in the Budget Speech 2021-2022. Multiple changes have been brought to the Financial Intelligence and Anti Money Laundering Act...
BUDGET 2021-22 – REGULATORY COMPLIANCE SPOTLIGHT
The 2021-22 Budget Speech focuses of the continued efforts of Mauritian Government to achieve an early exit from the FATF list of jurisdictions under increased monitoring (FATF Grey List) The measures announced continue the trend of previous years which has been to...
OFAC UPDATES
Specially Designated Nationals and Blocked Persons List OFAC (the “Office of Foreign Assets Control”) released an update on 26 April 2021 entitled “Specially Designated Individuals and Blocked Persons List” whereby it publishes a list of individuals and companies...
Amendments brought forward by the Financial Services Commission (“FSC”)
Following the issuance of the FSC AML CFT Handbook (“the Handbook”) in January 2020, the Financial Services Commission (“FSC”) has brought amendments on the 31st of March 2021, pertaining to the areas of: Independent Audit Business Risk Assessment Changes in...
Peer-To-Peer Lending in The Digital Era
The financial services sector has undergone major changes worldwide with the advent of technology. One of these areas of development include Peer-to-Peer Lending. Peer-To-Peer-Lending (P2P), also referred to as Crowdfunding, is a method whereby multiple small...
LOOKING AT THE FAMILY OFFICE RULES THROUGH THE LENSE OF THE RISK BASED APPROACH
Taking the family to a next level… Family Offices are a structure used by wealthy individuals as a vehicle for wealth preservation, succession planning, reducing family dispute and ensuring smooth management of family affairs. The emergence of Family Offices in...
Updates on the Risk-Based Approach
The Risk Based Approached (RBA) is not by any means a new concept though it is fast becoming an increasingly undeniable way for companies to achieve effective AML/ CFT compliance as they grapple with the rising cost of compliance and higher regulatory scrutiny. The...
Data Protection Principles under the Data Protection Act 2017
With the introduction of the Mauritius Data Protection Act 2017, numerous companies have had to adjust their collecting, handling, use and storage of personal data. Issues such as misuse of data for fraud, blackmail and identity theft are only a few of the reasons why...