Funds Security
Real Money

Fourth Quarter 2020 Newsletter – An Introduction to the Corporate Registry Integrated Search System (CRISS)

The Nevis Island Administration and the FSRC – Nevis Branch also referred to as the Nevis Financial Services (Regulation and Supervision) Department) (“NFSD”) have taken the initiative to improve the quality and effectiveness of the Companies’ Registry.

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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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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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March 2020 Newsletter – Coronavirus(Covid-19) and its impact on AML/CFT programmes

The coronavirus (COVID-19) pandemic has provided a fertile ground for criminal activities and has led to a rise in COVID-19 related crimes, including fraud, cybercrime, and the misdirection or exploitation of funds.

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February 2020 Newsletter – Information on the CFATF Mutual Evaluation & The National Risk Assessment

The Caribbean Financial Action Task Force (CFATF) conducts mutual
evaluations of its members on an ongoing basis. As part of the mutual
evaluation process, a team of experts from other members will conduct an
onsite visit to St. Kitts and Nevis from March 23 – April 03, 2020.

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