A COMPARATIVE ANALYSIS TO EVALUATE THE EFFECTIVENESS OF THE LEGAL FRAMEWORK FOR ANTI-MONEY LAUNDERING IN MAURITIUS

Abstract

The fight against money laundering has been a central issue for governments worldwide, with initiatives aimed at preventing the flow of dirty money. The value of money laundering is estimated to range from 2% to 5% of the global gross domestic product, thus, creating a compelling and urgent need to combat money laundering operations at both national and international levels.
To effectively combat this issue, this paper seeks to analyse the various aspects of the Anti-Money Laundering (AML) Laws in Mauritius. It aims to identify the loopholes in the system and recommends ways to improve AML regulations in the country. The study uses the doctrinal methodology to analyse the laws and regulations of Mauritius on money laundering and terrorism financing.
Additionally, the article uses a comparative approach to analyse the efficiency of the Mauritian AML Laws by comparing and contrasting the laws and regulations of Mauritius with those of the United Kingdom (UK). This will help the study identify areas where the country can improve its regulatory and legal framework to prevent money laundering and terrorism financing.