FATF Public Statement – Valencia Spain – June 2017
On the 23rd day of June, 2017, the Financial Action Task Force (FATF) issued a Public Statement on the Democratic People’s Republic of Korea (DPRK) and called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from the DPRK.
Read MoreCFATF Public Statement – Trinidad (May 31 2017)
On the 31st day of May, 2017, the Caribbean Financial Action Task Force (CFATF) issued a Public Statement which highlighted the progress made by Haiti in establishing its AMF/CFT regime. Haiti was identified as a Jurisdiction with strategic AML/CFT deficiencies that has made significant progress in addressing its deficiencies. Haiti is therefore encouraged to continue the reform process and demonstrate futher progress by the November 2017 Plenary for the outstanding deficiencies.
Read MoreStatistical Bulletin – 1st and 2nd Quarter 2017
The graphs below provide important statistics on the monthly incorporation and registration activities of the Financial Services Registry.
Read MoreJune 2017 Newsletter – Guidelines for Independent Internal AML/CFT Audit
One of the areas assessed by the FSRC – Nevis Branch during an onsite inspection is whether or not a regulated entity has performed an independent internal audit (“audit”) to test and validate activities to mitigate against money laundering/financing of terrorism risks. This is done to determine if the regulated entity adequately reviews internal control procedures to ensure compliance with AML/CFT Laws and Regulations.
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