The Bank is currently carrying out on-line auctions of Treasury Bills, and their automatic settlement using the new MACSS application will follow shortly. A sound regulatory framework for financial institutions under the purview of the Bank of Mauritius complements these initiatives.
Our action is targeted at making financial institutions understand that financial crime risks of which fraud risk is an integral part, are risks that need to be managed like any other. In our Guideline on Operational Risk Management and Capital Adequacy Determination, we require banks to collect information on internal loss for business lines, which includes loss related to internal and external fraud.