On 12 April, the Seychelles News Agency reported that, according to a press release from the Ministry of Finance, National Planning and Trade, the upgrade came after a delegation attended the 45th meeting of the ESAAMLG Task Force of senior officials in Tanzania in March.  It is said that Seychelles has made progress in addressing deficiencies against Recommendations 5,19, 25, 28 and 34.  These relate to terrorist financing offence, higher-risk countries, transparency and beneficial ownership of legal persons, regulation and supervision of designated non-financial business or professions, and guidance and feedback.  Seychelles is compliant or largely compliant with 34 of the 40 FATF Recommendations, and the 6 remaining will be considered at the next ESAAMLG meeting in April 2024.

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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