Financial Crime World

Here is the converted article in Markdown format:

LAWYER’S OPINION

Offences Relating to Money Laundering and Countering the Financing of Terrorism in Seychelles

====================================================

As a lawyer practicing in the Republic of Seychelles, I am pleased to provide my opinion on the legal framework governing money laundering and countering the financing of terrorism (CFT) in our jurisdiction.

Offences

It is an offence under Section 4(1)(a), (b), or (c) of the Anti-Money Laundering Act (Cap. 251) to:

  • Acquire property knowing or having reasonable grounds to believe that it forms part of the proceeds of a crime committed by oneself or another person.
  • Use or possess property knowing or having reasonable grounds to believe that it forms part of the proceeds of a crime committed by oneself or another person.

Presumption of Criminal Conduct

Where a person fails to comply with directions from the Financial Intelligence Unit (FIU) in relation to property and is subsequently charged with a money laundering offence, it shall be presumed that:

  • The property was obtained as a result of criminal conduct under Section 5(1) of the Act.

Financial Intelligence Unit

The FIU, established as a body corporate under Part 3 of the Anti-Money Laundering Act (Cap. 251), continues to exist and exercise its powers under Section 10(1) of this Act.

Duties of the Financial Intelligence Unit

  • The FIU is responsible for providing financial intelligence to support the investigation and prosecution of money laundering and CFT offences.
  • Conducting national risk assessments.
  • Developing effective strategies to combat these threats.

Cooperation and International Coordination

Seychelles has a commitment to cooperate with other countries in combating money laundering and CFT, both domestically and internationally. The Financial Intelligence Unit plays a crucial role in facilitating this cooperation and coordination.

Conclusion

==========

In light of the foregoing, it is clear that Seychelles has implemented a robust legal framework to combat money laundering and CFT. As a lawyer practicing in this jurisdiction, I am committed to ensuring that our laws are enforced effectively and that we continue to strengthen our efforts to prevent and prosecute these serious crimes.

Date: [Insert Date]

Signature: [Insert Lawyer’s Signature]

This opinion is intended for informational purposes only and should not be relied upon as legal advice. It is recommended that you consult with a qualified lawyer if you require specific guidance on money laundering or CFT offences in Seychelles.