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Mauritius: FSC issues AML/CFT Handbook
The Financial Services Commission ('FSC') issued, on 13 January 2020, its Anti-Money Laundering and Countering the Financing of Terrorism Handbook 2020 ('the AML/CFT Handbook'). In particular, the AML/CFT Handbook aims to assist financial institutions in complying with national measures to combat money laundering ('ML') and terrorism financing ('TF'). In addition, the AML/CFT Handbook outlines the importance of good corporate governance, the designation of a compliance officer, the adoption of a risk-based approach in order to prevent the company's products and services from being used for the purposes of ML and TF, due diligence requirements, and employees' screening and training.
You can read the press release here, and the AML/CFT Handbook here.
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