In addition to financial institutions, the FATF Recommendations also cover a number of Designated Non-Financial Businesses and Professions (DNFBPs). The DNFBP sector in Mauritius is made up of the following sub-sectors: the legal profession comprising attorneys, barristers, notaries and law firms, the accounting professionals, casinos and gaming houses, dealers in precious metals and stones, company service providers and real estate agents.

Since 2018, a number of measures have been taken to ensure that the DNFBP sector complies with AML/CFT requirements and is adequately supervised.  In July 2018, the Finance (Miscellaneous Provisions) Act 2018 amended the Financial Intelligence and Anti-Money Laundering Act to realign the AML/CFT obligations of banks, financial institutions and the DNFBPs with the revised FATF Recommendations.  Comprehensive regulations that apply to both financial institutions and DNFBPs were issued under the FIAMLA and became effective in October 2018.  In May 2019, Government enacted the Anti-Money Laundering and Combatting the Financing of Terrorism and Proliferation (Miscellaneous Provisions) Act 2019.  This legislation laid down the legal foundation to enable the designated AML/CFT regulatory bodies namely the Attorney General’s Office, the Financial Intelligence Unit, the Mauritius Institute of Professional Accountants, the Gambling Regulatory Authority and the Registrar of Companies to supervise the DNFBP sector for AML/CFT purposes.

The Ministry of Financial Services and Good Governance under the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), Technical Assistance and Training Programme had organised a five-day virtual Supervisory training on 14th, 15th, 16th, 24th and 25th of September 2020 to enhance the capacity of the staff of designated AML/CFT regulatory bodies. This training was part of a series of capacity building initiatives organised since April 2020 under the GIZ Technical Assistance and Training Programme.

Gathering more than 80 participants from the DNFBP regulators, the overarching goal of this training was to enhance the knowledge base and skills of the participants regarding onsite and offsite supervision. Accordingly, a number of practical exercises were assigned to the participants to ensure their full participation throughout the delivery of the course.

The participants were exposed to various compliance tools and methods in order to effectively supervise, monitor and regulate DNFBPs for compliance with AML/ CFT requirements commensurate with their risks. An effective supervision framework would allow the Supervisors to ensure that the DNFBPs are meeting their obligations under FIAMLA and its Regulations as well as to determine whether the DNFBPs have identified, understood are mitigating their money laundering and terrorism financing risks that exist in their firm.

The training was facilitated by Ms. Marilyne Landry, an AML/CFT expert with extensive experience in the management and delivery of AML/CFT technical assistance programs and conducting mutual evaluations.  Ms Landry is based in Canada and has worked with various international organizations including the World Bank, the United Nations (UN), the International Monetary Fund (IMF) and the Egmont Group.

The overall feedback from the participants was positive.  The participants found that the training would better equip them with the necessary tools to perform their duties effectively and efficiently and had increased their confidence in dealing with complex situations.

The training sessions were graciously hosted by the Financial Services Commission at the FSC House and colleagues from the Ministry and the Bank of Mauritius supported the practical role playing exercises.