At its Plenary held on the 19-21 October, the Financial Action Task Force (FATF) took the decision to remove Mauritius from its list of “Jurisdictions under Increased Monitoring" (commonly referred to as the “FATF Grey List"). This decision followed the recommendation put forward by the International Co-operation Review Group (ICRG) of the FATF, which was satisfied with the progress made by Mauritius in combatting money laundering and terrorist financing and of the completion of its Plan of Action during the on-site inspection conducted on the 13-15 September.

Further to this delisting, the United Kindgom (UK) removed Mauritius from its list of High Risk countries (also known as the “UK Blacklist") on 2 November 2021. This entails that the country is no longer considered by the UK as a high-risk country for the purposes of enhanced customer due diligence requirements under Schedule 3ZA of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

As such, Mauritius is now awaiting its imminent exit from the EU List of High Risk Third Countries (also referred to as the “EU Blacklist"). We will endeavor to keep you informed of the latest developments in this regard.

We provided more details on the removal of Mauritius from the FATF Grey List and the UK Blacklist in our past news releases. Access them at below links:

Shining through the grey clouds: FATF whitelists Mauritius: HERE
Mauritius exits UK list of High Risk countries: HERE