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The Interagency Coordination Committee

Memorandum of Cooperation between AML/CFT Supervisors
On 26 August 2022, a Memorandum of Cooperation (‘Memorandum’) was concluded by the Anti-Money Laundering and Combating the Financing of Terrorism (‘AML/CFT’) Supervisors overseeing the financial services sector and the designated non-financial businesses and professions (‘DNFBPs’) in Mauritius.
 
The Memorandum aims at facilitating policy formulation, exchange of information and operational coordination to effectively combat money laundering and the financing of terrorism and proliferation, and formalizing supervisory cooperation and information sharing arrangements related to AML/CFT matters among the AML/CFT Supervisors and further, to ensure the effective cooperation and exchange of supervisory information in AML/CFT matters, for the performance of the AML/CFT Supervisors’ respective supervisory powers over supervised entities.
 
Establishment of the Interagency Coordination Committee
The Interagency Coordination Committee (the ‘Committee’) was established in August 2020 pursuant to the Memorandum.
 
The Committee, under the Chairmanship of the Governor of the Bank of Mauritius, meets on a regular basis to ensure effective implementation of the AML/CFT measures and promote collaboration and coordination amongst the member agencies.
 
The Committee discusses policy formulation and cross-cutting AML/CFT issues and ensured effective implementation of AML/CFT measures, promote collaboration, coordination and supervisory cooperation amongst the AML/CFT supervisors, facilitate the implementation of a risk-based approach to AML/CFT supervision.
 
The Committee also oversees the work of its three Technical Sub-Committees, which comprise of representatives of all member agencies, namely :
  1. Technical Sub-Committee on Supervision, whose objectives include the establishment of an efficient and robust AML/CFT supervisory framework and the implementation of a risk-based approach to Supervision;
  2. Technical Sub-Committee on Coordination which focuses on the effective coordination by all supervisory authorities amongst themselves, and with the Financial Intelligence Unit and law enforcement authorities; and
  3. Technical Sub-Committee on Legal and Regulatory requirements, Training and Outreach which adopts a coordinated approach to the revision of existing laws and regulations related to AML/CFT, and regularly organizes joint outreach sessions for private sector stakeholders, and training sessions for staff members of AML/CFT Regulators and Supervisors.  This Technical Sub-Committee also discusses proposals for legislative amendments pertaining to cross-cutting AML/CFT issues.
 
With the coordinated efforts of its three Technical Sub-Committees, the Committee contributes to sustain the effectiveness of the country’s national AML/CFT framework and upholding the highest standards of compliance to AML/CFT legislations and international best practices.
 
Contact Details
Secretariat of the Interagency Coordination Committee
The Secretariat of the Committee is hosted at the Bank of Mauritius.  The Financial Services Commission also provides administrative support to the Secretariat.
 
The contact details of the Committee are as follows:
The Interagency Coordination Committee
C/O The ICC Secretariat
Email address: ICCSecretariat@bom.mu
Tel:  +230 202 3800