Seychelles News – Seychelles upgraded on five FATF recommendations
Article Published on April 27, 2023
Following the 45th Meeting of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Task Force of Senior Officials in late March 2023, Seychelles has been upgraded on the following five recommendations set by the Financial Action Task Force (FATF):
• Terrorist Financing offence (5);
• Higher-risk countries (19);
• Transparency and Beneficial Ownership of Legal Persons (25);
• Regulation and Supervision of Designated Non-Financial Business or Professions (28); and
• Guidance and Feedback (34)
As such, Seychelles’ laudable efforts in addressing the shortcomings of it’s AML/CFT legislative framework, as highlighted in the Second Mutual Evaluation Report (2018) as well as mitigating future risks has led the country to being either Compliant or Largely Compliant on 34 of the 40 FATF Recommendations.
You can access more information on the re-rating here
