Tuesday 22 February 2022: The Mauritius Bankers Association (MBA) has taken cognizance of Mauritius’s forthcoming exit from the European Union’s list of High-risk third countries, as published in the Official Journal of the European Union on 21 February 2022.
As per Article 4 of the Regulation, “This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union,” i.e., 13 March 2022.
This follows from the country’s exit from the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring, and the UK’s list of High-Risk Third Countries in 2021.
The MBA and its members welcome this announcement, which marks Mauritius as a fully compliant jurisdiction, and remain committed to continuing to uphold the highest standards of compliance to international Anti-Money Laundering (AML) legislation and best practices.