Associate Director of Compliance and Risk at Axis, Mr. Ameer Caunhye was delighted to be part of a distinguished panel organised by Refinitiv on 6 February 2023. Mr. Caunhye was questioned about his thought on the Mauritius current sanctions regime and whether there are potential gaps and possibility for improvement.
With years of compliance-related experience, Mr. Caunhye gave an overview of the regulatory framework and how Mauritius had to come up with the United Nation (UN) Sanctions Act 2019 to comply with the recommendations of the Financial Action Task Force (FATF). He emphasised the risks that a financial institution may have when they only consider UN sanctions, as opposed to also being concerned with EU or US penalties.
Ameer also shed light on the importance of risk assessment, and he emphasised on how at Axis we innovate, we use technology so that we have time to focus on where the risk lies leading to a proper risk-based approach framework.
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