Seychelles Makes Progress in Strengthening Measures to Tackle Money Laundering and Terrorist Financing

June 5, 2023

The Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) has released a follow-up report on Seychelles’ progress in addressing technical compliance deficiencies identified in its 2018 Mutual Evaluation. According to the report, Seychelles has made significant improvements in strengthening its measures to combat money laundering and terrorist financing.

Key Findings

• Five recommendations have been upgraded from Partially Compliant to Compliant or Largely Compliant:
  • Recommendation 19: Upgraded to Compliant
  • Recommendations 5, 25, 28, and 34: Upgraded to Largely Compliant
• Seychelles will remain in enhanced follow-up due to some remaining technical compliance deficiencies

Progress and Commitment

“Seychelles’ commitment to implementing international anti-money laundering and counter-terrorist financing standards demonstrates its determination to protect its financial system from abuse,” said [name], ESAAMLG Executive Secretary.

The FATF Recommendations are the global standard for combating money laundering, terrorist financing, and the financing of proliferation. The recommendations set out a comprehensive framework for countries to implement measures to prevent criminal abuse of the financial system.

Access the Report

The ESAAMLG Follow-Up Report is available on the FATF website.