GIS - August 28, 2020: Some 225 professionals from Designated Non-Financial Businesses and Professions (DNFBPs) received their certificate of participation yesterday in Ebene after completing a two-day capacity building program on the theme 'An approach based on the risks to combat money laundering and the financing of terrorism'.

The training is a joint initiative of the Financial Services Institute, Global Finance Mauritius and the Human Resource Development Council. The Minister of Financial Services and Good Governance, Mr. Mahen Kumar Seeruttun, as well as the Minister of Labour, Human Resources Development, and Training, Mr. Soodesh Callichurn, were present at the certificate ceremony .

In his address, Minister Seeruttun emphasized that accountants and auditors are the 'gatekeepers' of the country's financial system, due to their unique position to observe transactions and identify suspicious money laundering, terrorism or other wrongful acts.

Referring to the training programme, Mr. Seeruttun is of the opinion that it will further help participants to understand their obligations in terms of money laundering / fight against the financing of terrorism (AML / CFT), in particular through the identification suspicious activities and the submission of related reports.

According to the Minister, it is only through collaborative efforts that highly effective AML/CFT regimes can be created to promote financial integrity for the benefit of all. He urged participants to continue to discourage illegal and immoral practices within their profession.

As for Minister Callichurn, he commended the swift move and the bold measures of the government to face challenges such as the repercussions of the COVID-19 pandemic on the financial system and the placement of Mauritius on the list of third countries to high risk from the European Commission.

In addition, Mr. Callichurn indicated that his ministry plays a key role in training both financial services operators and DNFBPs on the new requirements of the European Commission and the Financial Action Task Force ( FATF ) . . He clarified that these initiatives are aimed at ensuring that they implement the right process and appropriate procedures in accordance with the AML/CFT guidelines with a view to enhancing the effectiveness of the AML/CFT regime.

It should be noted that to date, approximately 700 professionals have participated in this program while 955 additional participants will benefit from the training shortly.