Mauritius
Financial Intelligence and Anti-Money Laundering Act 2002
Act 6 of 2002
- Commenced on 10 June 2002
- [This is the version of this document from 10 June 2002 and includes any amendments published up to 30 June 2017.]
- [Note: The original publication document is not available and this content could not be verified.]
Part I – Preliminary
1. Short title
This Act may be cited as the Financial Intelligence and Anti-Money Laundering Act 2002.2. Interpretation
In this Act—"Agency" means the Integrity Reporting Services Agency established under section 4(1) of the Good Governance and Integrity Reporting Act;"AML/CFT" means anti-money laundering and combatting the financing of terrorism and proliferation;"ARID" means the Asset Recovery investigative Division set up under section 5 of the Asset Recovery Act;"auditor" means a person licensed to practise as an auditor under the Financial Reporting Act;"bank"—(a)has the same meaning as in the Banking Act; and(b)includes—(i)a non-bank deposit taking institution licensed under the Banking Act;(ii)a licensee under the National Payment Systems Act;"Bank of Mauritius" means the Bank of Mauritius established under the Bank of Mauritius Act 2004;[amended by Act No. 14 of 2005]"banking laws" has the same meaning as in the Banking Act;"Board" means the Board of the Financial Intelligence Unit constituted under section 12;"business relationship" means an arrangement between a person and a reporting person, where the purpose, or effect, of the arrangement is to facilitate the carrying out of transactions between the person and the reporting person on a frequent, an habitual or a regular basis;"cash"—(a)means money in notes or coins of Mauritius or in any other currency; and(b)includes any cheque which is neither crossed nor made payable to order whether in Mauritian currency or in any other currency;"cash dealer" has the same meaning as in the Banking Act 2004;[amended by Act No. 14 of 2005]"CDD" means customer due diligence;"Commission" means the Independent Commission Against Corruption established under the Prevention of Corruption Act 2002;"company service provider"—(a)means a person, registered under section 164 or 167A of the Companies Act, that provides any of the services specified in section 167A of that Act; but(b)does not include—(i)a barrister, an attorney or a notary, or a law firm, foreign law firm, joint venture or foreign lawyer under the Law Practitioners Act;(ii)a professional accountant, public accountant and member firm under the Financial Reporting Act; and(iii)the holder of a management licence under section 77 of the Financial Services Act;"Comparable Body" Means an overseas Government agency with functions similar to those of the FIU;"Core Group" means the Core Group for AML/CFT established under section section 19AA of the Act;"Counterterrorism Unit" means the Counterterrorism Unit referred to in section 18 of the Prevention of Terrorism Act;"credit union" means a society registered as such under the Co-operatives Act, the objects of which are to promote thrift among, and provide credit to, its members;"crime"—(a)means an offence punishable by—(i)penal servitude;(ii)imprisonment for a term exceeding 10 days;(iii)a fine exceeding 5,000 rupees;(b)includes an activity carried on outside Mauritius and which, had it taken place in Mauritius, would have constituted a crime; and(c)includes an act or omission which occurred outside Mauritius but which, had it taken place in Mauritius, would have constituted a crime;"dealer in jewellery, precious stones or precious metals"—(a)means a person who deals in jewellery, precious stones or precious metals; and(b)includes a person who—(i)manufactures, processes, buys, sells, imports or exports jewellery, or supplies jewellery for sale;(ii)processes, buys, sells or imports precious metals, or exports melted precious metals; or(iii)processes, buys, sells or imports precious stones;"Director" means the Director of the FIU appointed under section 9;[added by Act No. 34 of 2003]"Enforcement Authority" has the same meaning as in the Asset Recovery Act 2011;[added by Act No. 38 of 2011]"estimates of expenditure" has the same meaning as in the Finance and Audit Act;"estimates of income" has the same meaning as in the Finance and Audit Act;"exempt transaction" means a transaction—(a)between the Bank of Mauritius and any other person;(b)between a bank and another bank;(c)between a bank and a financial institution;(d)between a bank or a financial institution and a customer where—(i)the transaction does not exceed an amount that is commensurate with the lawful activities of the customer, and—(A)the customer is, at the time the transaction takes place, an established customer of the bank or financial institution; and(B)the transaction consists of a deposit into, or withdrawal from, an account of a customer with the bank or financial institution; or(ii)the chief executive officer or chief operating officer of the bank or financial institution, as the case may be, personally approves the transaction in accordance with any guidelines, instructions or rules issued by a supervisory authority in relation to exempt transactions; or[amended by Act No. 27 of 2013](e)between such other persons as may be prescribed;"express trust"—(a)means a trust clearly created by the settlor, usually in the form of a document; and(b)includes a written deed of trust;"Financial Action Task Force" means the independent international standard setter which develops and promotes policies to protect the global financial system against money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction, amongst others;"financial group" means a group which consists of a parent company or of any other entity exercising control and coordinating functions over the rest of the group for the application of group supervision under the core principles, together with branches or subsidiaries that are subject to anti-money laundering and combatting the financing of terrorism and proliferation policies and procedures at the group level;"financial institution" means—(a)an institution or a person, as the case may be, licensed, registered or authorised under—(i)section 14, 77, 77A or 79A of the Financial Services Act;(ii)the Insurance Act, other than an insurance salesperson;(iii)the Securities Act, other than an entity registered with that Act as a reporting issuer and which does not conduct any financial activities;(iv)the Captive Insurance Act; or(v)the Trusts Act as a qualified trustee; or(vi)section 12 of the Private Pension Schemes Act; or(b)a credit union;"Financial Reporting Council" means the Financial Reporting Council established under section 3 of the Financial Reporting Act;"financial services" has the same meaning as in the Financial Services Act;"Financial Services Commission" means the Commission established under the Financial Services Act 2007;[amended by Act No. 14 of 2007]"financial statements", in relation to a financial year—(a)means—(i)a statement of financial position;(ii)a statement of financial performance;(iii)a statement of changes in net assets or equity;(iv)a cash flow statement; and(v)a statement of comparison of annual estimates and actual amounts; and(b)includes notes, comprising a summary of significant accounting policies and other explanatory notes;"financial year" has the meaning assigned to it by section 2A of the Finance and Audit Act;"FIU" means the Financial Intelligence Unit established by this Act;"high risk country" means a jurisdiction identified under section 17H;"IFAC" has the same meaning as in the Financial Reporting Act;"internal controller" has the same meaning as in the Cooperatives Act;"investigatory authorities" means the Commissioner of Police, the Mauritius Revenue Authority, the ARID, the Agency and the Commission;[amended by Act No. 38 of 2011]"jewellery" means any article made of a precious metal or its alloy, and which exceeds one gramme;"legal arrangement" means an express trust or any other similar arrangement;"legal person"—(a)means any entity, other than a natural person; and(b)includes a company, a foundation, an association, a limited liability partnership or such other entity as may be prescribed;"Mauritius Revenue Authority" means the Mauritius Revenue Authority established under the Mauritius Revenue Authority Act;"member firm" means a person registered under section 54 of the Financial Reporting Act, other than an audit firm registered under section 35 of the Act;"member of a relevant profession or occupation" means a person specified in Column 1 of Part I of the First Schedule and performing any transaction in the manner specified in Part II of that Schedule;[amended by Act No. 23 of 2003; Act No. 9 of 2007; Act No. 14 of 2007; Act No. 17 of 2007; Act No. 27 of 2012]"Minister" means the Minister to whom responsibility for the subject of money laundering is assigned;"Ministry" means the Ministry responsible for the subject of money laundering;"money laundering" means an offence under Part II of this Act"National Committee" means the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism established under section 19A;[added by Act No. 34 of 2003]"officer" includes a director, an employee, an agent, a legal representative and, in relation to the powers of the ARID under the Asset Recovery Act, includes the Chief Investigating Officer;"overseas country" means a country or territory outside Mauritius;"overseas financial intelligence units" means the financial intelligence units constituted in overseas countries and whose functions correspond to some or all of those of the FIU;"precious metal"—(a)means gold, silver, platinum or palladium; and(b)includes any object which is composed of gold, silver, platinum or palladium;"precious stone" means diamond, sapphire, ruby, emerald, alexandrite or tanzanite;"Principal Co-operative Auditor" has the same meaning as in the Co-operatives Act;"proliferation" means—(a)the manufacture, production, possession, acquisition, stockpiling, storage, development, transportation, sale, supply, transfer, import, export, transshipment or use of—(i)nuclear weapons;(ii)chemical weapons;(iii)biological weapons;(iv)such other materials, as may be prescribed, which are related to nuclear weapons, chemical weapons or biological weapons; or(b)the provision of technical training, advice, service, brokering or assistance related to any of the activities specified in paragraph (a);"proliferation financing", in relation to a person, means the person who—(a)makes available an asset;(b)provides a financial service; or(c)conducts a financial transaction; andknows that, or is reckless as to whether, the asset, financial service or financial transaction is intended to, in whole or in part, facilitate proliferation regardless of whether the specified activity occurs or is attempted;"property" means property of any kind, nature or description, whether moveable or immoveable, tangible or intangible and includes—(a)any currency, whether or not the currency is legal tender in Mauritius, and any bill, security, bond, negotiable instrument or any instrument capable of being negotiated which is payable to bearer or endorsed payable to bearer, whether expressed in Mauritius currency or otherwise;(b)any balance held in Mauritius currency or in any other currency in accounts with any bank which carries on business in Mauritius or elsewhere;(c)any balance held in any currency with any bank outside Mauritius;(d)motor vehicles, ships, aircraft, boats, works of art, jewelry, precious metals or any other item of value; and(e)any right or interest in property;"Real Estate Agent Authority" means the Real Estate Agent Authority established under section 3 of the Real Estate Agent Authority Act 2020;"Registrars" means the Registrar of Associations and the Registrar of Foundations, the Registrar of Companies;"regulatory body", in relation to the member of a relevant profession or occupation or an entity, specified in the first column of Part I of the First Schedule, means the corresponding body or person specified in the second column of Part I of that Schedule;"relevant enactments" means this Act, the Banking Act 2004, the Bank of Mauritius Act 2004, the Financial Services Act 2007, the Prevention of Corruption Act 2002 and the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019;[amended by Act No. 14 of 2005; Act No. 14 of 2007]"reporting person" means a bank, financial institution, cash dealer or member of a relevant profession or occupation;"Review Panel" means the Review Panel referred to in section 19Q;"settlor" means a natural or legal person that transfers ownership of his or its assets to trustees by means of a trust deed or any other similar arrangement;"supervisory authorities"—(a)means—(i)the Bank of Mauritius;(ii)the Financial Services Commission;(iii)the Registrar of Co-operative Societies under the Co-operatives Act; and(b)includes a regulatory body specified in Column 2 of Part I of the First Schedule;"suspicious transaction" means a transaction which—(a)gives rise to a reasonable suspicion that it may involve—(i)the laundering of money or the proceeds of any crime; or(ii)funds linked or related to, or to be used for, the financing of terrorism or proliferation financing or, any other activities or transaction related to terrorism as specified in the Prevention of Terrorism Act or under any other enactment, whether or not the funds represent the proceeds of a crime;(b)is made in circumstances of unusual or unjustified complexity;(c)appears to have no economic justification or lawful objective;(d)is made by or on behalf of a person whose identity has not been established to the satisfaction of the person with whom the transaction is made; or(e)gives rise to suspicion for any other reason."transaction" includes—(a)opening an account, issuing a passbook, renting a safe deposit box, entering into a fiduciary relationship or establishing any other business relationship, whether electronically or otherwise; and(a)a proposed transaction or an attempted transaction.[Please note: numbering as original.][amended by Act No. 34 of 2003; Act No. 14 of 2005; Act No. 22 of 2005; Act No. 17 of 2007; Act No. 14 of 2007; Act No. 14 of 2009; Act No. 20 of 2011 Act No. 27 of 2012; Act No. 27 of 2013; Act No. 29 of 2015; Act No. 18 of 2016; Act No. 11 of 2018; Act No. 9 of 2019; Act No. 5 of 2020; Act No. 10 of 2020; Act No. 15 of 2021]Part II – Money laundering offences
3. Money laundering
4. Conspiracy to commit the offence of money laundering
Without prejudice to section 109 of the Criminal Code (Supplementary) Act, any person who agrees with one or more other persons to commit an offence specified in section 3(1) and (2) shall commit an offence.5. Limitation of payment in cash
6. Procedure
7. ***
[repealed by Act No. 9 of 2020]8. Penalty
Part III – The Financial Inteligence Unit
9. Establishment of the FIU
10. Functions of the FIU
11. Exercise of functions of the FIU
12. The Board
13. Dissemination of information by Director
[amended by Act No. 27 of 2012]Part IV – Measures to combat money laundering and the financing of terrorism
14. Reporting of suspicious transaction by reporting person or auditor
14A. Cash transaction reports
Every reporting person shall, within the prescribed time, report to FIU the prescribed particulars of any transaction in excess of the prescribed amount.14B. Electronic transfer of money to or from Mauritius
Where a reporting person sends money through electronic transfer in excess of the prescribed amount out of Mauritius or he receives money in excess of the prescribed amount from outside Mauritius on behalf, or on the instruction of, another person, he shall, within the prescribed period after the money was transferred, report the transfer, together with the prescribed particulars, to FIU.[added by Act No. 11 of 2018]14C. Registration by reporting person
Every reporting person or auditor shall, within such time and in such form and manner as may be prescribed, register with FIU.[amended by Act No. 9 of 2019; Act No. 5 of 2020]15. Lodging of reports of suspicious transactions
16. Legal consequences of reporting
17. Risk assessment
17A. Policies, controls and procedures
17B. Fictitious and anonymous accounts
A reporting person shall not establish or maintain an anonymous account or an account in a fictitious name.17C. Customer due diligence requirements
17D. Third party reliance
17E. Existing customers
17F. Record keeping
17G. Obligation to report currency transactions
A reporting person shall, within the prescribed time limit, submit a report to FIU in the prescribed manner of any currency transaction in an amount equal to or above the prescribed amount, whether conducted as a single transaction or several transactions that appear to be linked.[added by Act No. 11 of 2018]17H. High risk country
18. Regulatory action in the event of non-compliance
19. Offences relating to obligation to report and keep records and to disclosure of information prejudicial to a request
Part IVA – Group for Anti-Money Laundering and Combatting the Financing of Terrorism and Proliferation and National Committee for Anti-Money Laundering and Combatting the Financing of Terrorism and Proliferation
[amended by Act No. 15 of 2021]19A. Establishment of National Committee
19AA. Establishment of Core Group
19B. Functions of National Committee
The National Committee shall—19C. Meetings of the National Committee
19D. National risk assessment
19E. Duty to provide information for purpose of conducting risk assessment
Part IVB – Supervision by regulatory bodies
Sub-part A - Application of Part IVB
19F. Application
19FA. Application
Sub-part B - Functions and powers of regulatory body
19G. Functions of regulatory body
19H. Powers of regulatory body
Sub-part C - Supervisory powers of regulatory body
19J. Request for information
19K. On-site inspections
Sub-part D - Powers of regulatory body to give directions
19L. Directions by regulatory body
19M. Non-compliance with directions
Sub-part E - Administrative sanction and compounding of offences
19N. Administrative sanction
19P. Compounding of offences
Sub-part F - Review panel
19Q. Review Panel
19R. Staff of Review Panel
The Ministry shall extend such administrative and secretarial assistance as may be necessary to enable the Review Panel to properly discharge its functions under this Act.19S. Application for review
19T. Proceedings of Review Panel
19U. Powers of Review Panel
For the purpose of reviewing a decision, the Review Panel may—19V. Determination of Review Panel
19W. Offences relating to proceeding of Review Panel
Any person who, without reasonable cause—19X. Judicial review
Any party who is dissatisfied with the determination of the Review Panel may apply to the Supreme Court for a judicial review of the determination.19Y. Application of Sub-part
This Sub-part shall apply, with such modifications and adaptations as may be necessary, for the review of the decision of—Part V – Provision and exchange of information in relation to money laundering and financial intelligence information
20. Membership of international financial intelligence groups and provision of information to overseas financial intelligence units
21. Provision of information by FIU to investigatory authorities, supervisory authorities, Counterterrorism Unit, Real Estate Agent Authority, Financial Reporting Council or Registrars
22. Provision of information by supervisory authorities, Counterterrorism Unit, Real Estate Agent Authority, Financial Reporting Council or Registrars to FIU
Part VI – Extradition in relation to cases of money laundering
[amended by Act No. 35 of 2003]23. ***
[repealed by Act No. 35 of 2003]24. ***
[repealed by Act No. 35 of 2003]25. ***
[repealed by Act No. 35 of 2003]26. ***
[repealed by Act No. 35 of 2003]27. ***
[repealed by Act No. 35 of 2003]28. ***
[repealed by Act No. 35 of 2003]29. Money laundering offence to be extraditable
Any money laundering offence shall be deemed to be an extradition crime for which extradition may be granted or obtained under the Extradition Act.Part VIA – Accounts, audit and annual report
29A. Accounting records
The FIU shall keep and maintain proper accounting records for the purpose of recording all transactions relating to its undertakings, funds, activities and property.29B. Strategic plan and annual estimates
29C. Annual report
29D. Submission of annual report
29E. Disciplinary action for non-compliance
Where, in the opinion of the Director, any officer of the FIU—29F. Submission of annual report to the Minister
Part VII – Miscellaneous
30. Confidentiality
31. Declaration of assets
32. Immunity
32A. Offence in respect of contravention of Act
Any person who contravenes this Act shall commit an offence and shall, on conviction, be liable, where no specific penalty is provided, to a fine not exceeding one million rupees and to imprisonment for a term not exceeding 5 years.[added by Act No. 11 of 2018]33. Funding
34. ***
[repealed by Act No. 27 of 2013]35. Regulations
36. Consequential amendments
37. Commencement
Proclaimed by Proclamation No. 31 of 2002 w.e.f. 10th June, 2002History of this document
10 June 2002 this version
Commenced
Subsidiary legislation
Title | Numbered title |
---|---|
Financial Intelligence and Anti-Money Laundering Regulations 2018 | Government Notice 108 of 2018 |