November 2013 Newsletter – Customer Due Diligence (CDD) cont’d
When performing elements (a) and (b) of the CDD measures specified under Recommendation 10, (identified on pg 1 of last month’s issue) financial institutions should also be required to verify that any person purporting to act on behalf of the customer is so authorised and should identify and verify…
Read MoreFATF Public Statement, 18 October 2013
The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT).
Read MoreOceanic Credit Union
It has been brought to our attention that Oceanic Credit Union and/or individuals associated with this entity are claiming to be “registered” by the Eastern Caribbean Central Bank to conduct the business of banking in Nevis.
Read MoreOctober 2013 Newsletter – Customer Due Diligence (CDD)
Financial institutions should be prohibited from keeping anonymous accounts or accounts in obviously fictitious names.
Read MoreMalchus Irvin R. Boncamper, A.F.M Services Group et al.
The public is advised that information contained on the website is misleading, and that the following individual and companies are not licensed to conduct international/offshore financial services business in any capacity, in and from within Nevis
Read MoreArgus Global Equities Limited
Recently, we have received a number of complaints regarding the business practices of Argus Global Equities Limited, a company registered under the Nevis Business Corporation Ordinance, 1984.
Read MoreSeptember 2013 Newsletter – Mutual Exchange of Information on Taxation Matters
The purpose of the Saint Christopher and Nevis (Mutual Exchange of Information on Taxation Matters) Act, 2009
Read MoreTrading Avenue LLC
The Nevis Financial Services Regulation and Supervision Department wishes to advise that the statement contained on website
Read MoreAugust 2013 Newsletter – How to Achieve Better Corporate Governance Vol. 1
Corporate governance refers to the set of systems, principles and processes by which a company is governed. They provide the guidelines as to how the company can be directed or controlled such that it can fulfil its goals and objectives in a manner that adds to the value of the company and is also beneficial…
Read MoreJuly 2013 Newsletter – Governance, Risk, Management & Compliance (GRC)
Governance, risk management, and compliance or GRC is the umbrella term covering an organization’s approach across these three areas. Being closely related concerns, governance, risk and compliance activities are increasingly being integrated and aligned to some extent in order to avoid conflicts, wasteful…
Read MoreJune 2013 Newsletter – Politically Exposed Persons (PEPs) Risk
Politically Exposed Persons – will include senior political figures, their immediate family and close associates.
Read MoreMay 2013 Newsletter – Detecting and Reporting Suspicious Activities
In an effort to combat money-laundering, it is increasingly more important for regulated entities to develop effective methods to detect and filter suspicious activities. Regulated businesses must be alert to the implications of the flows and transaction patterns of existing customers, particularly where…
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