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

The main functions of the FIU as set out in section 12 of Anti-Money Laundering and Countering Financing of Terrorism Act, 2020 are to serve as the national center for the receipt and analysis of information relevant to money laundering and terrorist financing in an effort to detect financial crime, promote compliance by reporting entities and deter the use of any persons, structures and institutions in Seychelles for financial crime, through the dissemination of financial intelligence reports and any other necessary information, on its own or on request from any other organisation, both domestically and internationally, in relation to money laundering and terrorist financing activities. Other functions include:

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