Mauritius — Compliance News
Mauritius Receives EU Support to Strengthen AML/CFT Framework
The Government of Mauritius approved a €500,000 financing agreement with the European Union to support national AML/CFT and counter-proliferation financing efforts. The multi-year technical assistance programme will focus on developing a national CFT strategy, strengthening risk-based supervision, improving AML/CFT statistics, and reinforcing public-private cooperation as Mauritius prepares for future international assessments.
Source URL: https://pmo.govmu.org/CabinetDecision/2026/Highlights%20of%20Cabinet%20Meeting%20Friday%2030%20January%202026.pdf
FIU Issues Updated Guidelines on Politically Exposed Persons and DNFBPs
The Financial Intelligence Unit released updated AML/CFT guidelines in January, including revised guidance on Politically Exposed Persons (PEPs) and sector-specific obligations for Dealers in Precious Metals and Stones. The guidance reinforces enhanced due diligence, ongoing monitoring, record-keeping, and reporting obligations for higher-risk customers and sectors.
Source URL:
https://www.fiumauritius.org/fiu/?p=5620
FSC Introduces “Known to the Commission” Fast-Track Framework
The Financial Services Commission (FSC) issued Circular Letter CL050126 introducing a new “Known to the Commission” (KTC) framework. This initiative allows entities and individuals with established compliance histories to benefit from streamlined regulatory processing, reducing approval timelines while maintaining robust oversight. The circular outlines eligibility criteria, including a minimum three-year clean compliance track record, and sets out the application process for KTC status.
Source: https://www.fscmauritius.org/media/oo1b1pjy/circular-letter-known-to-the-commission.pdf
UAE— Compliance News
UAE Assumes 2026 MENAFATF Presidency
The UAE will preside over the Middle East & North Africa Financial Action Task Force (MENAFATF) in 2026, represented by Hamid Al Zaabi as president. The UAE’s leadership comes as the region prepares for a new round of FATF mutual evaluations; under its presidency, the focus will be on enhancing regional readiness, strengthening cooperation, and improving resilience in the fight against money laundering and terrorism financing.
DFSA Updates Crypto Asset Rules to Strengthen Compliance
The Dubai Financial Services Authority issued updated rules for crypto tokens in the DIFC, which took effect on 12 January 2026. The revised framework requires firms to assess and document the regulatory suitability of each crypto token themselves (ending the DFSA’s pre-approved token list) and introduces enhanced investor safeguards and reporting requirements, fostering a more transparent and well-regulated digital asset environment.
Dubai Court Upholds Conviction in $40 Million Bitcoin Laundering Case
Dubai’s highest court (Court of Cassation) upheld a five-year prison sentence for Indian businessman Balvinder Singh Sahni (alias “Abu Sabah”) for orchestrating a Dh150 million ($40.8 million) Bitcoin money-laundering scheme. The final appeal was rejected, confirming that Sahni must repay the Dh150 million (covered by seized assets) and that he will be deported after serving his sentence.
Source: https://www.thenationalnews.com/news/uae/2026/01/01/dubai-bitcoin-scam-balvinder-sahni/
Global — Compliance News
FATF Publishes Follow-Up Reports on Jurisdictional AML/CFT Progress
The Financial Action Task Force (FATF) released follow-up assessment reports highlighting progress made by several jurisdictions in addressing AML/CFT deficiencies identified in previous mutual evaluations. The updates form part of FATF’s ongoing monitoring process and provide insight into improvements in technical compliance and effectiveness across jurisdictions.
European Commission Updates EU High-Risk Third Country AML List
The European Commission’s updated list of high-risk third countries for AML/CFT purposes entered into force in January 2026. The update requires EU-regulated entities to apply enhanced due diligence measures when dealing with jurisdictions identified as having strategic AML/CFT deficiencies.
EBA and AMLA complete handover of AML/CFT mandates
On 1 January 2026, the European Banking Authority (EBA) and the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) completed the transfer of all AML/CFT mandates and functions from the EBA to AMLA, marking a milestone in the EU’s fight against financial crime. The handover concludes the EBA’s stand-alone AML/CFT mandate that began in 2020 and is part of the new EU AML/CFT package which established AMLA at the centre of an integrated, European system of AML/CFT supervision.
Source: Press Release: EBA and AMLA complete handover of AML/CFT mandates
FinCEN Launches Transnational Organized Crime Working Group
The U.S. Financial Crimes Enforcement Network (FinCEN) hosted the inaugural meeting of a new Transnational Organized Crime Working Group, bringing together multiple Financial Intelligence Units to enhance cooperation and information-sharing in combating cross-border money laundering and organised crime.
FinCEN Issues Geographic Targeting Order to Combat Large-Scale Fraud
FinCEN issued a Geographic Targeting Order and related AML alert in response to large-scale fraud schemes involving the misuse of public funds. The measures require enhanced reporting by financial institutions and money services businesses operating in designated areas to support law enforcement investigations.
AUSTRAC Releases AML/CTF Starter Kits for Newly Regulated Sectors
Australia’s financial intelligence agency AUSTRAC launched AML/CTF “starter kits” to support businesses newly brought into scope of the AML/CTF regime. The initiative targets sectors such as legal, accounting, and real estate services ahead of expanded AML obligations coming into force in 2026.
U.S. Department of Justice Secures Guilty Plea in Bank-Enabled Money Laundering Case
The U.S. Department of Justice announced a guilty plea by a former bank employee involved in facilitating large-scale money laundering through abuse of internal controls and evasion of Bank Secrecy Act reporting obligations. The case underscores enforcement focus on individual accountability within financial institutions.
