Saint Kitts and Nevis Tightens AML/CFT Regulations: Request for Proposals Issued for Digitized Services Development

The Financial Services Regulatory Commission (FSRC) St. Kitts Branch has issued a request for proposals from qualified individuals to develop a program for digitized services aimed at strengthening Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations in Saint Kitts and Nevis.

Background

The proposed project seeks to design and implement a digital system for the submission of documents and information to the FSRC St. Kitts Branch, enhancing transparency and efficiency in the financial services sector. This move is expected to bolster the country’s efforts to combat money laundering and terrorist financing activities.

Key Areas of Focus

• Specially Designated Nationals and Blocked Persons Lists
• UN Sanctions List
• Newsletters and other relevant documents

Objectives

The development of digitized services will enable the financial sector to meet international standards and best practices in AML/CFT regulations, ultimately contributing to a safer and more secure financial environment.

Request for Proposals

Interested parties are invited to submit their proposals outlining their approach, methodology, and proposed timelines for completing the project. The deadline for submission has yet to be announced.

Expected Impact

This initiative is expected to have a significant impact on Saint Kitts and Nevis’ efforts to prevent illicit activities and maintain its reputation as a responsible financial jurisdiction.