The Financial Crimes Commission (FCC) hosted a half-day Forum on the theme “Role of Boards: Preventing and Combating Financial Crime,” at its headquarters in Réduit Triangle, Moka.
The event brought together approximately 160 participants, including Chairpersons, Board Members, Board Secretaries of public bodies, Chief Executive Officers, Directors and Heads of organisations. The Forum’s main objective was to enhance participants’ understanding of financial crimes under the Financial Crimes Commission Act 2023 (FCCA 2023) while highlighting the critical role of Boards in promoting good governance. A particular emphasis was put on integrity, accountability and transparency.
In his opening address, the Director-General of the FCC, Mr Titrudeo Dawoodarry, underscored the importance of strong leadership, sound governance and ethical decisionmaking in protecting institutions against financial crimes. He urged participants to critically reflect on whether their actions contribute to building trust in institutions, asking: “Are our actions building trust in our institutions?”. He further stated that if everyone fulfills their responsibilities within their respective organisations, Mauritius can improve its ranking on the Corruption Perceptions Index (CPI) and even surpass countries such as Botswana, Seychelles, Rwanda and Cabo Verde. He added, “If all Board members were taking their responsibilities seriously, the country wouldn’t be losing billions of rupees.”
The programme featured presentations by representatives of the FCC, the Computer Emergency Response Team of Mauritius (CERT-MU) and governance experts.
Speaking on the theme ‘‘Board Members: Good Practices and What Must be Avoided”, Managing Partner of StraConsult Ltd, Mr Amédée Darga, shared practical insights drawn from his extensive experience in board leadership and public service, having served as both Board Chairperson and Government Minister. He emphasised the importance of accountability, integrity and transparency in Board decision-making, illustrating these principles through real-life examples from his professional career. He cautioned Board Members on the risks of undue influence in decision-making, including perceived pressure or instructions from higher quarters, and stressed the importance of exercising independent judgment, accountability and integrity in the discharge of their duties.
Ms Aruna Radhakeesoon, Attorney-at-Law at Prakriti One Limited, delivered a presentation on ”Promoting Good Governance Practices – Roles, Responsibility Right Reflexes of the Board”. She set the context by outlining the concept of corporate governance and the role of the Board, before highlighting the key responsibilities of Board Members and the importance of boardroom readiness in a new era of governance and financial crime risks. She further touched upon key boardroom priorities, including strategy-setting, Board and CEO succession planning, agility, independent board leadership, the Board–CEO relationship and the shaping of a strong board culture.
The Forum concluded with a panel discussion on “Promoting Board Leadership and Governance in the fight against Financial Crimes. Participants exchanged views on a range of governance-related issues, including the role and independence of Chief Executive Officers in relation to Boards, the application of Section 22 of the Financial Crimes Commission Act 2023 concerning public officials using their office for gratification, the investigative powers of the FCC, and the crucial role of Company Secretaries in ensuring effective Board meetings, sound governance and compliance with good governance principles.
During the discussions, the FCC also proposed the conduct of a survey to take stock of existing Board governance practices and identify areas for improvement. The outcome would guide the development of practical guidelines for Board Members to strengthen governance, promote accountability and enhance their role in preventing and combating financial crimes.
The Forum provided participants with practical guidance and a platform to exchange experiences and best practices on strengthening governance frameworks, fostering ethical leadership and reinforcing the pivotal role of Boards in safeguarding the integrity of public institutions and preventing financial crimes.