On the 2nd November 2021, the United Kingdom removed Mauritius from its list of high-risk countries under the UK’s Money Laundering and Terrorist Financing (Amendment) (No. 3) (high-risk countries) Regulations 2021.

The decision followed shortly after the Financial Action Task Force (FATF) announced at the October 2021 plenary that Mauritius has been removed from its “grey list” of jurisdictions under increased monitoring.

This positive move supports Mauritius’s efforts and commitment to enhancing their anti-money laundering and combatting terrorism financing (AML/CFT) systems and ensuring the effectiveness and sustainability of these systems in the future.

Mauritius is an attractive jurisdiction with an environment conducive to engaging in global business. It is also seen as a destination of choice for cross border investment into Africa and Asia and encourages direct foreign investment into the economy.

The decision by the FATF, and now most recently by the UK authorities, is expected to spark further confidence in the Mauritian financial services sector and we anticipate the removal of Mauritius from the EU’s list of high-risk countries (The blacklist) in the near future.