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Welcome to Banker's Academy

With 28+ years of experience,

Banker’s Academy

is the leading global provider of training solutions to the financial community. We specialize in BSA/AML, Compliance Officer, HR Professional, Teller and Branch Manager Training. We’re proud to have partnered with over 2,500 clients worldwide in various financial services industries, with a focus on banks, credit unions, and money service businesses. Let us help you reach your target audience with an innovative, results-driven educational experience.

Our Offerings

  • Extensive Catalog of required Compliance Courses maintained by Subject Matter Experts
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  • Years of experience helping our clients define, design, develop and implement excellent learning strategies from concept to post assessment.
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  • Modern Instructional design is required for an increasingly mobile workforce. Our experts are always refining and updating our methods to maximize the new micro-learning object approach.
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  • Defining and developing a competency framework is a large undertaking. We will help you create a valid, useful tool that can be effectuated within our Learning Management System and provide excellent ROI.
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  • Employee Onboarding processes can be a challenge to organize, manage and report, but it is essential to get it right. We have automation solutions that are easy and reliable to use.
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  • Advanced, immersive System Simulations Training. We specialize in core banking systems.
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  • We can custom create courses to any specification, quick and simple to sophisticated and complex.
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Anti Money Laundering (AML) By Country: Mauritius

Anti Money Laundering (AML) in Mauritius

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Money laundering in Mauritius is not a serious problem. The country has taken several important steps over the past ten years to enact legislation that has strengthened the country’s money laundering and terrorist financing prevention efforts.

In 2002, Mauritius passed the Financial Intelligence and Anti Money Laundering Act (FIAMLA), which established the country’s Financial Intelligence Unit (FIU). The Act also includes requirements for suspicious transaction reporting and the exchange of financial information with other FIUs and governmental agencies. The Prevention of Corruption Act 2002 (POCA) was also passed.

In 2003, the Financial Intelligence and Anti-Money Laundering Regulations were passed. The Regulations provide the need for a Money Laundering Reporting Officer (MLRO) and include the importance of internal policy and control measures to prevent money laundering and terrorist financing, as well as identification measures.

Mauritius also has several financial regulators that assist in the monitoring and regulation of financial institutions and other entities to prevent money laundering and terrorist financing.

These regulators include:

  • Bank of Mauritius.
  • Financial Services Commission (FSC).
  • Financial Intelligence Unit (FIU).
  • Independent Commission Against Corruption (ICAC).

The Economy of Mauritius

Since gaining its independence in 1968, Mauritius has transformed from a low-income and agriculturally-based economy to a middle income economy with growing industrial, financial, and tourist sectors.

In recent years, with the rise in the economy, Mauritius has seen other improvements in the country’s overall well-being, including: a more equitable income distribution; increased life expectancy; and a decreased infant mortality rate.

The economy gets it wealth from sugar production, tourism, textiles, apparel, and financial services. Mauritius hopes to expand its economy into the field of fish processing, information technology, communications, hospitality, and product development.

Banking in Mauritius

The Bank of Mauritius serves as the financial regulator for banks, moneychangers, and foreign exchange dealers. The Bank of Mauritius also serves as the country’s Central Bank. The Bank regularly issues and supervises guidelines regarding money laundering and terrorist financing prevention.

The Bank has the authority to revoke the licenses of banks and cash dealers that fail to comply with AML legislation.

The Financial Services Commission is the regulator for non-bank financial institutions such as insurance providers, capital markets, leasing activities, global business companies, and private pensions.

Mauritius' Currency

The currency in Mauritius is the rupee (MUR). The rupee is divided into 100 cents. The Mauritian rupee was tied to the India rupee when it was first issued and replaced the Mauritian dollar in 1877.

Banknotes are currently available in denominations of 25, 50, 100, 200, 500, 1,000 and 2,000 rupees. Coins are available in 1, 5 and 10 rupees as well as 5, 20 and 50 cents.

Other Key Statistics about Mauritius

Time Zone: MUT (UTC+4).

Location: Southern Africa, island in the Indian Ocean, east of Madagascar.

Population: 1,261,208 (2014 estimate.)

Capital: Port Louis.

Languages Spoken: Creole, Bhojpuri, French and English.


A Free Overview Of Anti Money Laundering (AML) For Mauritius.