Seychelles Unveils Groundbreaking Judicial Manual to Combat Money Laundering
In a major milestone in its fight against financial crimes, Seychelles has launched a pioneering judicial manual aimed at combating money laundering and counter-terrorism financing. The manual was unveiled on Tuesday at the Eden Bleu Hotel on Mahé in collaboration with the EU Global Facility on Anti-Money Laundering and Counter-Terrorist Financing.
A Pivotal Moment in Seychelles’ Fight Against Financial Crimes
Chief Justice Rony Govinden hailed the manual as a significant milestone in the country’s ongoing fight against financial crimes. He noted that it marks a pivotal moment in upholding the rule of law, ensuring financial integrity and security, and combating money laundering and counter-terrorism financing effectively.
The First-of-Its-Kind Manual for Seychelles
The judicial manual is tailored specifically for Seychelles and is the first of its kind in the country. It aims to provide practical support in financial investigations related to anti-money laundering and counter-terrorist financing cases, which are crucial in navigating complex investigations and prosecuting financial crimes effectively.
Background: Anti-Money Laundering and Countering the Financing of Terrorism Act
The development comes on the heels of the enactment of the Anti-Money Laundering and Countering the Financing of Terrorism Act in 2020. This legislation highlighted the need for comprehensive guidelines to combat money laundering and counter-terrorism financing, leading to the creation of this groundbreaking manual.
Key Features and Significance
- The manual provides practical support in financial investigations related to anti-money laundering and counter-terrorist financing cases.
- It aims to ensure seamless coordination among all stakeholders involved in combating financial crimes.
- Developed with the expertise of EU Global Facility experts from France, the Netherlands, Moldova, and Poland.
Launch and Reaction
The launch was attended by numerous stakeholders, including judges, prosecutors, law enforcement agencies, and Financial Intelligence Unit (FIU) staff. Director of the Seychelles Financial Intelligence Unit, Richard Rampal, emphasized the manual’s significance in equipping key institutions with essential knowledge to combat money laundering effectively.
Conclusion
Chief Justice Govinden expressed gratitude to the EU Global Facility experts and local teams for their unwavering support and collaboration in developing the manual. He noted that the unveiling marks a significant step towards continuing to uphold the rule of law, combating financial crimes, and protecting citizens and financial institutions from illicit activities.