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MAURITIUS

Pravind Jugnauth's task force struggles to shake off EU blacklisting

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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. [...]

Prime Minister of Mauritius Pravind Jugnauth. © Reuters

Prime Minister Pravind Jugnauth has put together a solid team of experts to work on getting Mauritius off the European Union's blacklist of third countries that pose a risk to the bloc because of anti-money laundering deficiencies. But this task force still hasn't been able to escape the list. [...] (781 words)

Issue dated 12/02/2021 Reading time 4 minutes

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Finance Politics

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MAURITIUS
Bank of Mauritius
DG FISMA
Eastern and Southern Africa Anti-Money Laundering Group
European Central Bank
European Union
Expert Group on Money Laundering and Terrorist Financing
Financial Action Task Force
Financial Intelligence Unit
Financial Services Commission
Finanzmarktaufsicht Liechtenstein
Harvesh Seegolam
John Berrigan
Maneesh Gobin
Mardayah Kona Yerukunondu
Pravind Jugnauth
Rajesh Ramloll
Renganaden Padayachy
Sutiawan Gunessee
Vikash Thakoor
Vincent Degert
Yonesha Sahye

Gabarone ready to reveal companies' true owners in bid to please money-laundering watchdog

Botswana was removed from the Financial Action Task Force's notorious grey list by the skin of its teeth last October and is now seeking to implement reforms it promised to the global money-laundering watchdog. New laws are planned to force companies to make public the names of those who benefit from them. [...]

MAURITIUS MONACO Finance Business 26/04/2021

Monaco firms trust Mauritius despite EU blacklist

On 14 April, the Monaco-based financial expert Filippo Ferrari registered a new firm in Mauritius called Alliance Négoce on behalf of one of his clients. [...]

SEYCHELLES Finance Business 23/04/2021

Register of beneficiaries threatens to blow lid on trust company ownership

Like its Mauritian neighbour, the Seychelles is striving to placate international institutions like the OECD and EU while at the same time preserving its offshore appeal. The latest hurdle to negotiate is the introduction in May of a register of offshore company beneficiaries. [...]

MAURITIUS Finance Business 15/04/2021

Biden's global minimum tax upsets the offshore apple cart Free

With his proposed global minimum tax rate, Joe Biden could deprive offshore players in Mauritius of one of their unique selling points. [...]

MAURITIUS Finance Business 05/04/2021

Financial services veteran Brendan Jones moves into venture capital with Adansonia

Having sold a Mauritian financial services company to the giant Maitland, South African national Brendon Jones has now set up a mixed entity, which both manages assets and sets up offshore companies. [...]

MAURITIUS Finance Business 24/02/2021

Warner Music settles in Mauritius to market Punjab hits

The American entertainment colossus Warner Music decided to create a base in Mauritius' financial centre at the end of February in order to enter the Indian market, partnering with South African firm Ziiki Media. [...]

UNITED KINGDOM SOUTH AFRICA Finance Business 18/02/2021

Jersey seduces South Africa's investors

Amid post-Brexit uncertainties, Jersey's offshore promotion agency is trying to outshine Mauritius in one of their shared markets: wealthy South African individuals and investors. [...]

MAURITIUS Finance Business 09/02/2021

Mauritius wants to attract more cryptocurrency operators

Crypto asset specialist Apollo Fintech opened up in Mauritius at the end of January. The island's Economic Development Board has been trying to attract cryptocurrency companies since 2017. [...]

MAURITIUS Finance Business 28/01/2021

Port Louis becomes back office for ex-Wall Street gurus touting miracle Forex returns

The Russian financier Alex Gerchik, ex-trader and briefly a reality TV star, has set up a subsidiary in Mauritius for his online trading platform. Companies of this type have mushroomed in the island's offshore hub as well in the Seychelles. [...]

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. [...]

MAURITIUS Finance Business 21/01/2021

Port Louis makes its case behind closed doors against its blacklisting Free

As it strives to get itself removed as quickly as possible from the EU's money laundering blacklist to which it was added in May 2020, the Mauritian government's efforts are being thwarted by the cumbersome procedures it has to go through. [...]

MAURITIUS Finance Politics 29/01/2020

OECD tax avoidance convention will barely affect offshore finance

The international instrument, designed to limit base erosion and profit shifting, will come into force in Mauritius on February 1. Negotiated by the government and accommodating the interests of offshore finance, it will allow the island nation to leave official tax haven list. [...]

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Intelligence Online 16/06/2022

Berlin and Oslo seek experts to help boost financial intelligence in the Balkans and Africa

Backed by the Norwegian foreign ministry, German development agency GIZ is turning to the private sector for help to speed up its programme to fight illicit financial flows among Berlin's allies. [...]

Receive free prompts for these topics

MAURITIUS
Bank of Mauritius
DG FISMA
Eastern and Southern Africa Anti-Money Laundering Group
European Central Bank
European Union
Expert Group on Money Laundering and Terrorist Financing
Financial Action Task Force
Financial Intelligence Unit
Financial Services Commission
Finanzmarktaufsicht Liechtenstein
Harvesh Seegolam
John Berrigan
Maneesh Gobin
Mardayah Kona Yerukunondu
Pravind Jugnauth
Rajesh Ramloll
Renganaden Padayachy
Sutiawan Gunessee
Vikash Thakoor
Vincent Degert
Yonesha Sahye

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Pravind Jugnauth's task force struggles to shake off EU blacklisting

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

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Gabarone ready to reveal companies' true owners in bid to please money-laundering watchdog

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Port Louis makes its case behind closed doors against its blacklisting Free

OECD tax avoidance convention will barely affect offshore finance

Berlin and Oslo seek experts to help boost financial intelligence in the Balkans and Africa

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Pravind Jugnauth's task force struggles to shake off EU blacklisting

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

This article may be accessed by subscribers and e-wallet holders (USD 19.50)

2 options offered to continue reading

Create your free account

create a free account

Receive free prompts for these topics

Gabarone ready to reveal companies' true owners in bid to please money-laundering watchdog

Monaco firms trust Mauritius despite EU blacklist

Register of beneficiaries threatens to blow lid on trust company ownership

Biden's global minimum tax upsets the offshore apple cart Free

Financial services veteran Brendan Jones moves into venture capital with Adansonia

Warner Music settles in Mauritius to market Punjab hits

Jersey seduces South Africa's investors

Mauritius wants to attract more cryptocurrency operators

Port Louis becomes back office for ex-Wall Street gurus touting miracle Forex returns

Blacklisted offshore centre commits to tougher crackdown on operators

Port Louis makes its case behind closed doors against its blacklisting Free

OECD tax avoidance convention will barely affect offshore finance

Berlin and Oslo seek experts to help boost financial intelligence in the Balkans and Africa

Receive free prompts for these topics

First visit

Contacts

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Follow us

A website produced by

Indigo Publications also publishes: