The delayed Mauritius' second National Risk Assessment (NRA) in the AML/CFT is published.

The years late, Mauritius has finalised its second National Risk Assessment on Money Laundering and Countering the Financing of Terrorism (AML/CFT).

The exercise was based on data from January 2018 to June 2022, incorporating developments through December 2024. This assessment aligns with the Ministry of Financial Services and Economic Planning's vision to adopt a holistic approach to the Mauritian financial centre. The results of this assessment will guide the revision of the national AML/CFT strategy, which the Ministry actively supports, with the necessary resources to reduce the identified risks. To this end, an ambitious strategic plan for the financial services sector has been finalised and will soon be presented by the Minister.

The Honourable Jyoti Jeetun, Minister of Financial Services and Economic Planning, said:

• “When I assumed my role, I found a promising sector, but held back by inertia, inefficiency, and a lack of innovation.
• The completion of our second National Risk Assessment, delayed since 2022, marks a critical turning point.
• This turning point is all the more crucial as it is part of the government’s ambitious plan to boost the economy, with the financial sector playing a major role: it represents 13.4% of the national GDP, generates more than 17,000 jobs, and contributes 15 billion rupees in tax revenue. We have identified measures that I will present shortly.
• They reflect this decisive recovery and reflect our commitment to reform, modernise, and diversify our financial centre to support this growth momentum.“

The National Risk Assessment is part of an effort to strengthen the financial system's integrity and prepare the country for the ESAAMLG assessment scheduled for 2027. It involved many public and private stakeholders, including the FIU, regulators, the FCC, the MRA, the Police, and several multi-sector operators.

The assessment concludes that the overall risk of:

• Money laundering in Mauritius is medium-high due to
• Internal threats such as drug trafficking, fraud, and illegal betting,
• As well as external threats such as corruption and tax evasion.
• The most exposed sectors are banking, trust and company services, leasing, gambling, real estate, notaries, and jewellery.
• The risk of terrorist financing is considered Medium-Low,

Ebene, Mauritius – May 07, 2025: https://platformafrica.com/2025/05/07/mauritius-finalises-second-national-risk-assessment-in-the-aml-cft-arena/

IN May 2025, Mauritius released its Second NRA on Money Laundering and Terrorist Financing  

• https://financialservices.govmu.org/Documents/AnnualReport/NRA_Public_Report.pdf

In 2019, Mauritius completed its first NRA exercise, enabling the country to identify, assess, and understand its ML and TF risks.

• https://financialservices.govmu.org/Documents/NRA%20Report/Public%20Report%202019-compressed.pdf

The Mauritius National AML/CFT Strategy 2019-2022

1. The 2019 NRA findings led to the development and adoption of a Mauritius National AML/CFT Strategy 2019-2022, which aimed to enhance Mauritius's ability to prevent, detect, and deter ML and TF (both in terms of the legal framework and operational capacity). It also contained a strategy for maintaining an ongoing dialogue with relevant private sector stakeholders to ensure the effective implementation of AML/CFT requirements. https://www.fiumauritius.org/fiu/?page_id=2311 / https://www.fiumauritius.org/fiu/wp-content/uploads/2021/05/NATIONAL-STRATEGY-2019-2022_REVISED.pdf

Risk Assessment for Legal Persons and Legal Arrangements

2. Risk Assessment for Legal Persons and Legal Arrangements. Based on the results of its NRA in 2019, Mauritius prioritised a separate ML risk assessment of all its Legal Persons. The exercise was completed in 2019. Mauritius also developed a Typology Report illustrating the inherent risks of Legal Arrangements.
3. The report included a plethora of case studies identifying the vulnerabilities of Legal Arrangements and the red flags.

Risk Assessment for the Non-Profit Organisation Sector

4. In 2020, in line with FATF Recommendation 8 and IO 10, Mauritius completed its first TF risk assessment for the NPO sector as part of its commitment to combating the financing of terrorism. https://www.fiumauritius.org/fiu/wp-content/uploads/2022/07/Executive-Summary-TF-Risk-Assessment-NPO-Sector-Mauritius.pdf

Risk Assessment for Virtual Assets and Virtual Assets Services Providers

5. In furtherance of FATF Recommendation 15, which requires countries to identify, assess, and understand the ML/TF risks emerging from VA activities and the activities or operations of VASPs, Mauritius conducted its ML/TF risk assessment of VAs and VASPs in 2021, following which the VAITOS Act was enacted. https://www.fscmauritius.org/media/123445/the-mauritius-money-launderingterrorist-financing-risk-assessment-of-virtual-assets-and-virtual-asset-service-providers-public-report.pdf