Tuesday 2 November 2021 marks yet another milestone for Mauritius as the country is removed from the United Kingdom (UK) list of High Risk countries (commonly referred to as the “UK Blacklist”). This decision follows the delisting of Mauritius from the Financial Action Task Force (FATF) list of “Jurisdictions under Increased Monitoring” (commonly referred to as the “FATF Grey List”) in October 20211.
As such, Mauritius 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 20172.
This outcome is testament to a renewed confidence from international parties in the country’s status as a robust and compliant domicile for international trade and investment, one which has shown rigour in addressing the deficiencies of its Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework and which continually strives to adhere to globally accepted standards and principles.
We now await the imminent removal of Mauritius from the EU List of High Risk Third Countries (also referred to as the “EU Blacklist”), which will cement our jurisdiction’s position as an International Financial Centre that exudes integrity and confidence.
We endeavour to keep our valued clients informed of the situation in due course.
1 If you have missed our newsflash on the removal of Mauritius from the FATF Grey List, you can access it at below link:
Shining through the grey clouds: FATF whitelists Mauritius - HERE
2 Access the official documentation HERE
