ABOUT THE FINANCIAL INTELLIGENCE UNIT
The Seychelles Financial Intelligence Unit (FIU) provides financial intelligence relating to suspicious transactions/activities, money laundering, the financing of terrorism and other predicate offences. The FIU fulfils the functions and exercises powers as set out in the Anti-Money Laundering and Countering Financing of Terrorism Act, 2020 (AML/CFT Act).
The FIU functions
- Monitor, supervise, create awareness and train reporting entities, supervisory authorities and the public in respect to their obligation under the AML/CFT Act;
- Undertake due diligence checks and other inquiries;
- Establish cooperation with domestic and international institutions and foreign counterparts, entrusted with the responsibility for organizing an effective AML/CFT regime;
- Exchange information with foreign FIUs based on partnership principles in accordance with the Statute of the Egmont Group of Financial Intelligence Units and in accordance with the Memoranda of Understanding; and
- Enforce compliance with the AML/CFT Act by imposing dissuasive administrative sanctions in cases of non-compliance.
All reporting entities are required to register with the FIU
Vision
To safeguard the financial system through adherence to international best practices and position Seychelles as a leading jurisdiction within the region in the fight against money laundering, terrorist financing, and proliferation financing.
Mission
To deter, detect and disrupt domestic and international money laundering, terrorism financing and proliferation financing through ensuring regulatory compliance, the development of high-quality intelligence reports, the enhancement of domestic and international cooperation.
Values
Professionalism; Justice; Accountability; Cooperation; Integrity; Mutual respect; Initiative; Confidentiality; and Transparency