A major risk associated with cross border operations is money laundering. The Bank of Mauritius has continuously upgraded its guidelines on AML/CFT in line with FATF recommendations. Strict enforcement of the guidelines has led to severe regulatory sanctions against non-compliant institutions which explains why the Bank is unpopular, and 7.
Jean-Claude Trichet: Reflections on the current financial markets correction Keynote address by Mr Jean-Claude Trichet, President of the European Central Bank, at the OECD Forum 2008 “Climate change, growth, stability”, Paris, 4 June 2008.