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.Read More
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.
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.Read More
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.