Mauritius war on money laundering gets it closer to exiting FATF grey list

Grey list may have created negative perception among pension, endowment and SWFs. RBI too rejected applications for NBFC licences recently, as investment was routed via Mauritius

Mauritius may have taken another step towards exiting the Financial Action Task Force’s (FATF’s) grey list, with the inter-governmental body — which sets anti-money laundering standards — acknowledging the progress the island nation has made in its fight against money laundering and terrorist financing.

"Mauritius has taken steps towards improving the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regime, by developing a risk-based supervision plan for global businesses and management companies,” said the FATF in a note.

It has asked the country to continue working on its action plan to address strategic deficiencies, by focusing on five aspects that include implementing the