Special Report – Treasure Island or Banana Republic? Mauritius faces tough choices about legitimacy and development
09 Dec 2016

To some campaigners, it is an established truth that small tropical islands without natural resources must be willing to turn a blind eye to global illicit financial flows. Though not putting out a welcome mat, the perception is that island nations with serious financial sectors achieve success through a laissez faire approach to money laundering, tax evasion and other economic crimes. Mauritius, a country of less than two million people situated off the East African coast, is often lumped with so-called tax havens in the Caribbean, as well as its neighbour the Seychelles. But its situation is more complicated than the stereotype.

In an exclusive report for KYC360, investigative journalist Lucy Wark reflects on Mauritius’ progress in establishing itself as a legitimate financial centre and considers the challenges it faces going forwards.

 

Read the full report

Count reading this article to your CPD minutes, by signing up to our CPD Wallet

FREE CPD Wallet
Must Read

Bearing witness to financial crime, across party lines

If it seems like an odd recipe for financial oversight, it’s also a surprisingly effective one: take five to ten congressional staffers, exile them to a squalid basement office with “hard-boiled” charm in the U.S. Senate’s oldest building, give them access to subpoena powers and a seemingly endless series of… Read More

Anti-money laundering analysis: UK FCA and EU blacklists update

A key element in the application of the risk-based approach (RBA) to financial crime is the identification by a firm of those countries with which its customers are closely linked and which are also adjudged to be high risk in financial crime terms. There are many lists of such high-risk… Read More