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MAURITIUS ANGOLA

Mauritius ambiguous over sanctions against Swiss-Angolan financier Jean-Claude Bastos

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“Mauritius tries to brush up the reputation of its offshore financial sector”

MAURITIUS

Mauritius tries to brush up the reputation of its offshore financial sector

After having been put on the European Union's money laundering blacklist in October, Mauritius is using diplomacy to try to improve its image. Business and political bodies are pleading its case with the string of international organisations which issue reports and blacklists on financial criminality, including, notably, the Financial Action Task Force, the OECD and the EU. Their aim is to reassure the investors who have been using the island as their business base for years. [...]

Five years after he was accused of defrauding the Angolan sovereign fund he was managing, Swiss-Angolan financier Jean-Claude Bastos de Morais has finally been banned from managing companies in Mauritius. The sanction was slow in coming and has fallen at a bad time for Mauritius as it faces criticism from the European Union for having failed to take more drastic action against money laundering. [...] (760 words)

Issue dated 16/09/2020 Reading time 4 minutes

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Finance Business

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MAURITIUS
ANGOLA
Ana Dias Lourenço
Bastos
Carlos Alberto Lopes
Financial Intelligence Unit
Financial Services Commission
Fundo Soberano de Angola
Hotel Africa
Jean-Claude Bastos de Morais
João Lourenço
José Eduardo dos Santos
José Filomeno de Sousa dos Santos
QG Africa Clinics
QG Congo Holding
QG Investments Africa Management
Quantum Global
Zénu

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Inner circles

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Spotlight

ANGOLA Diplomacy 15/03/2021

Lourenço solicits cooperation from the Emirates, Mauritius and Monaco in battle against Dos Santos family

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ANGOLA Energy 01/03/2021

Lourenço scrutinises financially diminished sovereign fund

Angolan president João Lourenço announced the opening of a tender for a contract to analyse the 2021 results of the Fundo Soberano de Angola (FSDEA), a sovereign fund mainly financed by oil revenue. [...]

EUROPE MAURITIUS Finance Business 22/01/2021

Blacklisted offshore centre commits to tougher crackdown on operators

Accused by Brussels and FATF of being too lenient on firms active in its offshore ecosystem, Mauritius is trying to clean up its act but in a measured fashion so as not to scare off its traditional clients. [...]

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Luxury safari industry expands its base camp in Mauritius

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Inner circles

ANGOLA Business 14/07/2020

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MAURITIUS
ANGOLA
Ana Dias Lourenço
Bastos
Carlos Alberto Lopes
Financial Intelligence Unit
Financial Services Commission
Fundo Soberano de Angola
Hotel Africa
Jean-Claude Bastos de Morais
João Lourenço
José Eduardo dos Santos
José Filomeno de Sousa dos Santos
QG Africa Clinics
QG Congo Holding
QG Investments Africa Management
Quantum Global
Zénu

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Mauritius ambiguous over sanctions against Swiss-Angolan financier Jean-Claude Bastos

Mauritius tries to brush up the reputation of its offshore financial sector

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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Receive free prompts for these topics

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Mauritius ambiguous over sanctions against Swiss-Angolan financier Jean-Claude Bastos

Mauritius tries to brush up the reputation of its offshore financial sector

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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create a free account

Receive free prompts for these topics

Mauritius Commercial Bank ordered to disclose its dos Santos accounts

Sovereign fund dream team, unloved by Lourenço, fights for survival

Lourenço solicits cooperation from the Emirates, Mauritius and Monaco in battle against Dos Santos family

Lourenço scrutinises financially diminished sovereign fund

Blacklisted offshore centre commits to tougher crackdown on operators

Luxury safari industry expands its base camp in Mauritius

New generation businessman Agostinho Kapaia steps into the limelight

Despite troubles in Mauritius, Quantum Global charges ahead with Toro Gold

Troubled times at AfrAsia Bank

Bombarded on the oil front, Joao Lourenco shores up his mining turf

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Indigo Publications also publishes: