In February 2020, the Financial Action Task Force (FATF) identified Mauritius as a jurisdiction having strategic anti-money laundering/ combating the financing of terrorism (AML/CFT) deficiencies and placed the country on the list of ‘Jurisdictions under Increased Monitoring’.

On this basis, the European Union (EU) also concluded that Mauritius should be considered as a country having strategic deficiencies in its AML/ CFT regime under Article 9 of...