The FATF further laid emphasis on that, I quote, “criminals and terrorists may seek to exploit gaps and weaknesses in national anti-money laundering/counter-financing of terrorism (AML/CFT) systems while they assume resources are focused elsewhere making risk-based supervision and enforcement activity more critical than ever.
The challenge of Basel II has necessitated the training of staff in Basel II compliance. The Bank has deployed the necessary resources to that effect. The Bank, jointly with Deutsche Bank (Mauritius) Limited, organised a training course aimed at the Bank’s staff as well as staff of commercial banks on Basel II implementation.