June 2016 Newsletter – Licensing & Ongoing Supervisory Framework for Insurance Companies
The AML/CFT measures in the financial sector are issued by the Financial Action Task Force (FATF). The International Association of Insurance Supervisors as with other international policy shapers for the respective various sectors support such recommendations.
Read MoreCFATF Public Statement on Haiti and Suriname
On the 8th day of June, 2016, the Caribbean Financial Action Task Force (CFATF) issued a Public Statement on Haiti, a jurisdiction with strategic AML/ CFT deficiencies. Haiti has not made sufficient progress in addressing the deficiencies or has not complied with the Action Plan developed with the CFATF to address these deficiencies. The CFATF therefore calls on its members to consider the risks arising from the deficiencies associated with Haiti.
Read MoreStatistical Bulletin – 1st and 2nd Quarter 2016
The graphs below provide important statistics on the monthly incorporation and registration activities of the Financial Services Registry.
Read MoreApril 2016 Newsletter – AML/CFT Guidelines for Banks
The inadequacy or absence of sound money laundering and financing of terrorism (ML/FT) risk management exposes banks to serious risks. Sound ML/FT risk management has particular relevance to the overall safety and soundness of banks and the entire banking system.
Read MoreMarch 2016 Newsletter – Recap of 2016 AML/CFT Workshop
Under the theme “Powerful Insights, Practical Ideas, Real Solutions:
Financial Crime Prevention – the Way Forward” the Nevis Financial Services (Regulation and Supervision) Department (“FSRC—Nevis Branch”) held its annual AML/CFT Awareness Seminar and Training Workshop on Monday March 21 and Tuesday March 22, 2016 at the Four Seasons Resort, Nevis.