Mauritius committed to implement FATF recommendations

Mauritius said Tuesday it is fully committed to implementing recommendations of the Financial Action Task Force (FATF), amid reports that a Sebi panel wants tighter rules for foreign investors coming from non-FATF countries.

Mauritius is a member of the Eastern and Southern African Anti Money Laundering Group (ESAAMLG) which was launched in 1999 and the ESAAMLG is also an associate member of the FATF since June 2010.

The FATF is an inter-governmental policy-making body that was set-up in 1989 to promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. It has 37 members, including India.

"By signing the memorandum of understanding of the ESAAMLG in 1999, Mauritius endorsed the FATF recommendations and committed itself to implement these recommendations," said Faraz Rojid, the head of Financial Services at the Economic Development Board of Mauritius in a statement.

He further said, "Mauritius has, through the years, taken significant steps to enhance its framework for anti-money laundering and combating the financing of terrorism and implement the recommendations contained in its mutual evaluation reports."