Ebene, Mauritius – May 07, 2025: Mauritius has finalised its second National Risk Assessment in the areas of Money Laundering and Countering the Financing of Terrorism (AML/CFT). A workshop was organised today by the Ministry of Financial Services and Economic Planning to present the key findings of this exercise, conducted with technical support from the World Bank.
The workshop brought together key Mauritian institutions, industry stakeholders, the World Bank, the British High Commission, and the European Union to coordinate next steps.
The National Risk Assessment is part of an effort to strengthen the integrity of the financial system. It also prepares the country for the ESAAMLG assessment scheduled for 2027. With this in mind, the Ministry of Financial Services and Economic Planning is strengthening the AML/CFT (AML/CFT) system by strengthening the legal framework, creating a ministerial monitoring committee, conducting targeted sectoral assessments, a mid-term strategic review, and ongoing training.
The exercise was based on data from January 2018 to June 2022, incorporating developments through December 2024. It involved a wide range of 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, and external threats such as corruption and tax evasion. The most exposed sectors are banking, trust and company services, leasing, gambling, real estate, notaries, and jewelry. The risk of terrorist financing is considered Medium-Low, requiring continued vigilance.
The results of this assessment will guide the revision of the national AML/CFT strategy, actively supported by the Ministry, with the necessary resources to reduce the identified risks.
This assessment is fully in line with the vision of the Ministry of Financial Services and Economic Planning to adopt a holistic approach to the Mauritian financial centre. The holistic plan for the sector, developed after extensive stakeholder consultation, proposes concrete solutions to address the identified challenges: reducing barriers, simplification, diversification, strengthening system coherence, developing branding and promotion, and retaining talent. It constitutes a transformation roadmap that reflects the Ministry’s commitment to building a more inclusive, innovative, and forward-looking sector.
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 center to support this growth momentum.“
