One of the areas assessed by the FSRC – Nevis Branch during an onsite inspection is whether or not a regulated entity has performed an independent internal audit (“audit”) to test and validate activities to mitigate against money laundering/financing of terrorism risks. This is done to determine if the regulated entity adequately reviews internal control procedures to ensure compliance with AML/CFT Laws and Regulations.

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Statistical Bulletin – 1st and 2nd Quarter 2017