The FIU was first established as a department housed within the Central Bank of Seychelles (“CBS”) in June 2006 with the repealing of the Anti-Money Laundering Act 1996 and enactment of the Anti-Money Laundering Act 2006 (“AMLA”), which defines the FIU’s duties, rights, functions and powers. In 2008, the AMLA was amended to establish the FIU as an independent body corporate, thus segregating its functions from those of CBS. With the promulgation of the Transfer of Statutory Functions (AML Act) Order, 2010, the President of the Republic transferred the exercise of powers and performance of duties conferred upon him under sections 16 (4), (6), (7), (8), (9), (10), (11); 17 (5) (a), 17 (7) and 18 (2) (c) of the AMLA to the Board of Directors of the CBS.
To safeguard the economic 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.
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 report, enhance the effectiveness of law enforcement, judiciary, domestic and international cooperation.
What is an FIU
Courtesy of The Egmont Group of FIUs: Video taken from Vimeo.com