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Real Money

Third Quarter 2020 Newsletter – Tax Evasion and Tax Fraud – Red Flags

Tax evasion and tax fraud are growing concerns for financial markets all over the world. In 2012, the FATF revised its recommendations to include Tax Crimes (related to direct taxes and indirect taxes) in the list of predicate offences to money laundering.

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FSRC Nevis Monthly Statistical Bulletin – August 2020

The graph below provides important statistics on the monthly incorporation and registration activities of the Corporate Registry of the Nevis Financial Services (Regulation & Supervision) Department for the month of August, 2020.

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Second Quarter 2020 Newsletter – AML/CFT On-Site Examinations (Areas of Improvement)

The FSRC-Nevis Branch has been conducting on-site examinations to assess the extent to which regulated entities are operating in accordance with their obligations under the
relevant AML/CFT legislation e.g. the AntiMoney Laundering Regulations, 2011 (“AMLR”), the Anti-Terrorism (Prevention of Terrorism Financing) Regulations, 2011 (“ATR”), the Financial Services (Implementation of Industry Standards) Regulations, 2011 (“FSIISR”), the Proceeds of Crime Act, Cap 4.28 (“POCA”), The Financial Intelligence Unit Act, Cap 21.09 and the
Financial Services Regulatory Commission Act, Cap 21.10.

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