Financial Crime World

Preventing Financial Crime in Saint Pierre and Miquelon

Saint Pierre and Miquelon has taken significant steps to prevent organized criminal networks from operating in the island territory. The government has implemented robust measures, including stringent Know Your Customer (KYC) and third-party risk management programs, to ensure that businesses are not affected by sophisticated criminals.

Combating Financial Crime through Effective Measures

The government of Saint Pierre and Miquelon has partnered with various organizations to expand its knowledge base and add valuable insights into the most effective ways to combat organized criminal networks involved in financial crime. These partnerships include collaborations with governments, businesses, and NGOs to fight financial crime, including wildlife trafficking and modern slavery.

Credible Partnerships for Intelligence Sharing

To further enhance its efforts, Saint Pierre and Miquelon has established credible partnerships to share intelligence and best practices in preventing financial crime. With local people in all major markets, the island territory understands the local nuances and details, even where information may be less reliable.

Effective Solutions for Preventing Financial Crime

The government of Saint Pierre and Miquelon has implemented a range of solutions, including:

  • Accurate and Reliable Information: Providing accurate and reliable information and tools to help meet due diligence and screening requirements for anti-money laundering, sanctions, and watch lists.
  • Powerful Combination of Risk Data and Technology: A powerful combination of financial risk data, leading-edge screening technology, and human expertise to help compliance teams maximize their resources and fight financial crime more efficiently.
  • Trusted Information Sources: Leveraging trusted information sources, including structured World-Check data accredited with ISAE 3000 standard.

Conclusion

By taking these steps, Saint Pierre and Miquelon is well on its way to preventing financial crime and maintaining a safe and secure environment for businesses and residents alike. The island territory’s commitment to combating financial crime demonstrates its dedication to protecting the integrity of its economy and upholding the rule of law.