FSC Mauritius: Communiqué in relation to high level delegation in the UK in the context of the setting up of the FCC

A high level delegation comprising Mr. Dev Manraj, the Financial Secretary; Dr. Navin Beekarry; Director General of the Independent Commission Against Corruption (ICAC); Mr Harvesh Seegolam, the Chief Executive of the Financial Services Commission (FSC), is currently on mission in the United Kingdom in the context of the setting up of the Financial Crime Commission. The delegation met with Mr David Green CB QC, the Director of the Serious Fraud Office (SFO) and his team on Wednesday 04th of October 2017 to discuss about the establishment of a best tailor-made model of the Financial Crime Commission for Mauritius. In the same context, Dr. Navin Beekarry also had a series of meetings with the UK National Crime Agency (NCA) and the Crown Prosecution Office (CPS) in order to examine the UK model and experience on financial crime investigation and prosecution and how this model and experience can provide valuable lessons for Mauritius. The delegation also discussed about technical assistance on capacity building and areas of practice in modernising our practices in financial crime investigation and prosecution.

The Government is conscious that, with the increasing cross-border financial transactions, often facilitated by rapid technological developments, it is high time to develop a renewed financial crime enforcement strategy, adapted to the modern world. This new strategy to combating financial crime will not only strengthen the financial services sector, but will also make Mauritius a model in fighting financial crime for the region. In its commitment to relentlessly fight fraud, corruption and financial crime, it was announced in the Government programme 2015-2019, the establishment of the Financial Crime Commission as an apex body overseeing the ICAC, the Financial Intelligence Unit (FIU) and the Enforcement Department of the FSC. A Committee, under the Chairmanship of the Financial Secretary, comprising key stakeholders namely the Ministry of Finance and Economic Development, the Attorney General’s Office, the Ministry of Financial Services and Good Governance, the ICAC, the FSC, the FIU, the MRA and the Mauritius Police Force, is currently studying the best avenues to set up the Financial Crime Commission. The main Committee has set up a Working Group under the Chairmanship of the Director General of ICAC to submit proposals for the establishment of the Financial Crime Commission.

Financial Services Commission

05 October 2017