In Issue # 79, we learnt that suspicious transactions are activities for which there are reasonable grounds to suspect that they are related to a criminal activity or the commission of a money laundering (ML) or terrorist financing (TF) offence.Read More
What is a Suspicious Transaction/Activity?
Suspicious transactions/activities are transactions/activities for which there are reasonable grounds to suspect that they are related to criminal activity or the commission of a money laundering (ML) or terrorist financing (TF) offence.
According to the Organisation for Economic Cooperation and Development (OECD), Base erosion and profit shifting (BEPS) is referred to as “tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity.”Read More
The Financial Services Regulatory Commission (‘FSRC’), Nevis Branch held its 14th Annual AML/CFT Conference on Monday, March 11 and Tuesday, March 12, 2019 at the Four Seasons Resort Nevis. The Conference was held under the theme, “Conquering the Compliance Divide: Effective vs. Defective – Bridging the Gap in Today’s Regulatory Environment.”Read More