FSC Mauritius Reminds its Licensees of AML/CTF Obligations
Posted: Tue Jun 14, 2016 10:14 pm
On Wednesday the Financial Services Commission (FSC) in Mauritius issued a notice to remind its regulated entities that they are required to report suspicious or potentially suspicious activity of the individuals or entities named in the Sanctions List set up by UNSC.
The FSC announcement is a fairly routine occurrence among financial regulators worldwide to adhere to international initiatives to combat money laundering and financing of terrorism. And it often demands that the licensees regularly verify whether they maintain any account or otherwise hold any fund, other financial assets, economic benefits and economic resources for the named individuals, entities ... (read more)