Limitation on payment by cash to combat money laundering: a comparative assessment of the laws of Mauritius and France

Bhavna Mahadew

Journal of Money Laundering Control, 2024, vol. 28, issue 1, 80-92

Abstract: Purpose - The purpose of this article is to review the legislation on limitation on cash payment from a comparative perspective with France. This legal provision has been the subject of inconsistency and lack of clarity for the past two decades. Design/methodology/approach - This paper uses a doctrinal legal research technique based on an analysis of the law and how it is interpreted in relation to Mauritius's prohibition on cash payments. Section 5 of the FIAMLA 2002 is interpreted in large part by this assessment using legal precedents from the Supreme Court and other Mauritius judicial authorities. France has been chosen as the comparative jurisdiction as it has well-defined legal framework on cash payment limitations in Europe. Findings - The Mauritian judiciary has played a far more significant and active role than the French judiciary. A cursory search reveals a dearth of case law concerning the interpretation of the pertinent sections of the French Monetary and Financial Code concerning the prohibition on cash payments. The French legal system places more emphasis on the kinds of transactions that are exempt, whereas the Mauritius system places more attention on the entities that are exempt, such as banks and other financial organisations. Originality/value - This paper fills in the gap that exists on legal interpretation of legislation on limitation on payment by cash in Mauritius. It originally contributes to legal literature on money laundering by undertaking a comparison between Mauritius and France for the benefits of students and researchers around the world.

Keywords: Money laundering; Mauritius; France; Limitation of payment in cash; Judicial precedents (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-04-2024-0064

DOI: 10.1108/JMLC-04-2024-0064

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