AFTER NEW LEGISLATION, SEYCHELLES SUBMITS AML REPORT WITH EYE ON NEW RATING

On 10 March, the Seychelles News Agency reported that Seychelles has submitted its report to the FATF-style regional body, the Eastern and Southern Africa Anti-Money Laundering Group, for re-rating of its AML/CFT assessment following a series of legislative changes made to ensure compliance with international standards.  The 2018 mutual evaluation report, which assessed Seychelles’ compliance to 40 Recommendations of FATF, rated the country to be compliant in 20 areas, partially compliant in 16 and non-compliant in 4.  Seychelles initially submitted a request for re-rating of 12 Recommendations to which the country was deemed partially compliant.

https://www.seychellesnewsagency.com/articles/14482/After+new+legislation%2C+Seychelles+submits+anti-money+laundering+report+with+eye+on+new+rating

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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