Funds Security
Real Money

July 2016 Newsletter – AML/CFT Guidelines for the Management of Risks Related to Money Services Businesses

In recent years tougher regulatory scrutiny over the implementation of AML/CFT laws has seriously impacted money services businesses (MSBs) globally, threatening their relationship with the conventional banking sector.

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June 2016 Newsletter – Licensing & Ongoing Supervisory Framework for Insurance Companies

The AML/CFT measures in the financial sector are issued by the Financial Action Task Force (FATF). The International Association of Insurance Supervisors as with other international policy shapers for the respective various sectors support such recommendations.

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April 2016 Newsletter – AML/CFT Guidelines for Banks

The inadequacy or absence of sound money laundering and financing of terrorism (ML/FT) risk management exposes banks to serious risks. Sound ML/FT risk management has particular relevance to the overall safety and soundness of banks and the entire banking system.

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March 2016 Newsletter – Recap of 2016 AML/CFT Workshop

Under the theme “Powerful Insights, Practical Ideas, Real Solutions:
Financial Crime Prevention – the Way Forward” the Nevis Financial Services (Regulation and Supervision) Department (“FSRC—Nevis Branch”) held its annual AML/CFT Awareness Seminar and Training Workshop on Monday March 21 and Tuesday March 22, 2016 at the Four Seasons Resort, Nevis.

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February 2016 Newsletter – New Standard of Supervision

The Group of International Finance Centre Supervisors (“GIFCS”) first issued a Best Practice Statement on the supervision of Trust and Corporate Service Providers (“TCSPs”) in 2002. Since then GIFCS member countries have used this Statement as a benchmark for establishing regulatory frameworks and supervisory practices for the robust oversight of the sector. A key objective of this initiative has been to ensure that TCSPs are adequately regulated and supervised and that information on the ultimate beneficial owners behind trust and company vehicles administered from GIFCS centres, as well as on the sources and nature of underlying funds can at all times be accessed by competent authorities.

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