The International Graduate Diploma in Financial Crime Compliance, a joint initiative of the Financial Services Institute Ltd (FSI) and the Open University of Mauritius (OUM) was launched by the Hon. Minister of Financial Services and Good Governance, Hon. Mahen Kumar Seeruttun, at the Financial Services Commission (FSC) House, in Ebène. This 10-month programme is internationally recognised and is being offered by FSI in collaboration with the Open University of Mauritius with recognition from the Financial Services Commission (FSC) and the Financial Intelligence Unit (FIU).  The course will be FSC’s qualification of choice for MLROs and CCOs. Delivery will be by regulators, industry specialists and seasoned trainers including FSI’s CEO and ICAC ‘s Senior Officers.

In his address note, the Hon. Minister stressed that as our International Financial Centre develops in scale and sophistication, Mauritius remains under the radar of launderers and needs people to make AML/CFT systems effective and sustainable. 

He expressed confidence that this “First of Its Kind Diploma” will become a flagship qualification not only for Mauritius but also for the region thereby putting steam to Government’s policy of strengthening the position of Mauritius as a Knowledge Hub.

This qualification, he emphasised, will go a very long way in creating structured career pathways for professionals thereby increasing the Image, Stature and Attractiveness of Compliance as a Profession.

Moreover, Hon. Mahen Seeruttun stressed that the Diploma will not only augment the capacity of existing staffs but will prepare a pool of qualified resources which can be tapped. It works well across sectors of activity from Global Business to Designated Non- Financial Businesses and Professionals.

He observed that the FATF experience has made our institutions Inter-Dependent as opposed to Independent and stressed that we are witnessing an interesting transition to a reformed environment which hinges on a culture of collaboration and sharing of intelligence for effective Identification, Prosecution and Conviction of criminals, and Freezing of criminal proceeds.

Also present on the occasion, the Director-General of the OUM, Dr Kaviraj Sharma Sukon, said that through this joint initiative, the cooperation is being enlisted to ensure that the awareness campaign against financial crimes is strengthened. The financial services sector is becoming more and more complex and we need to train people to have full complain, he averred.

As for the Chief Executive of the FSC, Mr. Dhanesswurnath Thakoor, he stated that the certification will go a long way towards ensuring competencies standards within this area and will then be able to export our services to the region.

He recalled that compliance is a virtue of any respected institution and stressed that it needs to adhere to laws, rules, regulations and guidelines to be fully complaint. On that note, he emphasised on the need to impart financial education to all those involved in the financial sector. This, he said, is for the betterment of our financial industry.