The new ESAAMLG framework for the assessment of our jurisdiction dates back to 2014. (Fatf principles -2012, revised fatf methodology -2013, ESAAMLG revised evaluation procedures announced end 2014). The Labour party did not even have time to put itself to the task when they were booted out of power.
The new Minister of Financial Services was our guy Bhadain who spent most of the time tackling the BAI and Seesungkur did blame him for doing nothing for the sector -
"Quand j’ai pris les rênes de ce ministére, la situation était catastrophique. Ce bureau était vide, mis a part un call centre qui regroupait huit personnes et dont la seule mission consistait a ‘liker’ et a commenter les posts de Bhadain. D’ailleurs, ce dernier passait son temps a attaquer les opérateurs. Le secteur avait beaucoup souffert a cause de lui. Qui ne se souvient pas du dossier de la BAI, du Heritage City ou de Britam? II n’y avait méme pas un CEO a la FSC. Ce ministére dominait |’actualité en termes de scandales. "
"Quand j’ai pris les rênes de ce ministére, la situation était catastrophique. Ce bureau était vide, mis a part un call centre qui regroupait huit personnes et dont la seule mission consistait a ‘liker’ et a commenter les posts de Bhadain. D’ailleurs, ce dernier passait son temps a attaquer les opérateurs. Le secteur avait beaucoup souffert a cause de lui. Qui ne se souvient pas du dossier de la BAI, du Heritage City ou de Britam? II n’y avait méme pas un CEO a la FSC. Ce ministére dominait |’actualité en termes de scandales. "
Why shift the blame now onto the Labour Party ?
Seesungkur did make some efforts but it was more on technical compliance rather than on effectiveness.
This Government is guilty of grave irresponsibility and serious incompetence since 2015 by not ensuring that Mauritius conforms to the minimum standards on the effectiveness of its AML/CFT system.
Instead of blaming the Labour Party, the present Minister of Finance (who was the Chairman of the FSC) and this govt should be hanging their heads in shame for their ineptness and incompetence that landed Mauritius on the EU blacklist and above all, which is unacceptable, being blamed for failing to conduct parallel investigations of both the money laundering offence and the predicate offences, whether arising from drug crime, tax evasion, corruption or other serious offences and for failing to supervise the non-financial sectors, especially of casinos, bookmakers and gambling activities, to combat money laundering.
We all know that ICAC has failed in meeting its objectives to investigate and prosecute money laundering offences; an overhaul of ICAC is badly needed to step up the fight against financial crime.
We are paying the price today for the appointment of politically-connected and incompetent stooges at the Bank of Mauritius, the FSC, the FIU and the Asset Recovery Unit, ICAC and the Police with the cosequences that they have thus underminined the fight against drug crime and trafficking.
We need not comment on gambling and the gamblers ! you know the intimate relationship between un "certain" gambler and "certains" of this regime.
