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Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)
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Mauritius | Does Registry Ease Provide Opportunity to Defaud (Prabha Chinien)

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  • 1. Does RegistryEaseProvideOpportunity toDefraud?A Case Study -Mauritiusexperience…. D.Prabha Chinien, Registrar of Companies, Mauritius CRF, Auckand, March 2013
  • 2. FRAUD THREATSOBLIGATION TO PROTECT:-• PROPERTY OF PERSON AND COMPANIES• IDENTITY• INVESTMENT
  • 3. MEASURES IMPLEMENTED TOMITIGATE RISKSLegislativeAdministrative proceduresEducation – Staff Public
  • 4. LEGISLATIVE CHANGESMain legislation in relation to companies –Companies Act 2001• New provision to disclose service address in addition to residential address• Proof of address• Identity Card/passport details
  • 5. Legislative changes• Disclosure of beneficial ownership:-‘’ where the shares are held by a nominee, thenames in alphabetical order and the last knownaddresses of the persons giving to theshareholder instructions to exercise a right inrelation to a share either directly or throughthe agency of one or more persons’’
  • 6. OTHER LEGISLATIONPACKAGE OF LEGISLATION INTRODUCED TOCOMBAT FRAUD:• The Financial and Anti Money Laundering Act Financial and Intelligence Unit• The Prevention of Corruption Act - ICAC• Data Protection Act• The Computer Misuse and Cybercrime Act 2003• Information Technology (Misc) Provisions Act
  • 7. ADMINISTRATIVE PROCEDURES STAFF• Inbuilt features in the system• Password for staff• Identification badge• Audit trail• Limit access to use of electronic signature template• Active directory server to limit access
  • 8. ADMINISTRATIVE PROCEDURESControl access to public access to physicalrecords by:• Identity checks• Disclosure of personal details
  • 9. ADMINISTRATIVE PROCEDURES• Management Companies- due diligence Presenter’s details: New safeguards to ensure identity of the person submitting the application
  • 10. Education• Continuous training on risks associatedwith keeping of information• Awareness campaign on :• Legislation to combat fraud• Public – wide disclosure of information
  • 11. ConclusionDoes registry ease the opportunity fordefraud?• Opportunity real but ways and means to avoid the risks• Is it the role of the Registry to ascertain that?
  • 12. THANK YOU

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