This document discusses the banking system in Mayotte, focusing on banking inclusion, financial security, and the challenges faced by the local population in accessing banking services.
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[...] Measures of prevention imposed on overseas professionals. It is essential to act upstream to limit the risks of money laundering, therefore, it is imposed on professionals an obligation of vigilance and an obligation to declare to Tracfin any suspicion of money laundering An obligation of vigilance The fight against illicit financial flows is carried out through preventive measures to which certain professionals are bound, including financial and professional organizations mentioned in Article L. 561-2 of the Monetary and Financial Code. [...]
[...] are not concerned by the application of this provision. In fact, the provision concerns money transfer operations, which are payment services. However, only payment service providers can provide these services, namely, payment institutions, electronic money institutions, credit institutions, and account information service providers.108, approved by the ACPR. It is prohibited for any person other than those mentioned in Article L. 521-1 of the Monetary and Financial Code to provide payment services as a habitual profession, in the sense of Article L. [...]
[...] Obligation of declaration and information to TRACFIN In accordance with Article L. 561-1 of the Monetary and Financial Code, The individuals who, in the exercise of their profession, have knowledge of operations involving sums that they know come from a crime punishable by a prison sentence of at least one year are required to declare them to the prosecutor of the Republic, who informs the Treatment of Information and Action against Clandestine Financial Circuits (TRACFIN)89. This last one provides all the useful information. [...]
[...] However, each overseas territory has its own socio-economic constraints and vulnerabilities, so that a norm that in principle applies uniformly is applied differently in practice to adapt to local realities. In other words, the legal framework of financial inclusion instruments is identical between metropolitan France and the Overseas Departments and Regions. On the other hand, their effectiveness may be compromised by structural constraints specific to the Overseas Departments and Regions. How does the law or practice regulate it in the face of its specificities? [...]
[...] 561-5 CMF), a transaction monitoring (article L. 561-6 CMF) and, if necessary, a suspicious transaction report to TRACFIN (article L. 561-15 CMF) In the overseas territories, these requirements can constitute a practical obstacle: for example, in Mayotte, the difficulty of obtaining identity documents that comply with the requirements makes it impossible to open certain digital accounts. Thus, the banking compliance designed to secure the system paradoxically excludes the very public it aims to protect, reproducing the paradox already observed in the traditional banking system. [...]
