Terrorism Financing Laws and Regulations in Seychelles Undergo Series of Amendments to Enhance Effectiveness

Seychelles has been at the forefront of combating terrorism financing through a series of legislative amendments aimed at strengthening its legal framework. These efforts have been guided by international commitments, including United Nations Security Council resolutions.

Prevention of Terrorism Act 2004: The Foundation for Seychelles’ Anti-Terrorism Legislation

The Prevention of Terrorism Act 2004 served as the foundation for Seychelles’ anti-terrorism legislation. This act provided a framework for the country to prevent and suppress terrorism, and subsequent amendments have built upon this foundation.

Amendments in 2015: Strengthening the Legal Framework

In 2015, the Prevention of Terrorism (Implementation of UNSCR on Suppression of Terrorism) Regulations further solidified Seychelles’ stance against terrorism. These regulations implemented United Nations Security Council resolutions aimed at suppressing terrorism financing.

Recent Amendments: Tackling Evolving Terrorist Financing Methods

However, it became clear that additional measures were necessary to stay ahead of evolving terrorist financing methods. The Prevention of Terrorism (Amendment) Act in 2021 and its subsequent amendment in 2022 introduced new provisions aimed at tackling the proliferation of weapons of mass destruction and their financing.

• Introduced new powers to investigate and prosecute suspected offenders
• Broadened the definition of terrorist financing to include activities such as money laundering and illegal arms dealing

Prevention of Proliferation Financing Regulations: Targeting Illegal Activities

To complement these amendments, Seychelles also enacted the Prevention of Proliferation Financing Regulations in 2021 and updated them in 2022. These regulations specifically target individuals or entities involved in the financing of illegal activities, including terrorism.

• Prohibit the provision of financial services to individuals or entities suspected of engaging in terrorist financing
• Require financial institutions to report suspicious transactions related to terrorist financing

Act 21 – 2022 – Prevention of Terrorism (Amendment) Act: Enhancing Detection and Prevention

The most recent development is Act 21 – 2022 – Prevention of Terrorism (Amendment) Act, which has further refined Seychelles’ anti-terrorism laws. This amendment aims to enhance the country’s ability to detect and prevent terrorist financing by broadening its powers to investigate and prosecute suspected offenders.

International Cooperation and Best Practices

Throughout these amendments, Seychelles has demonstrated a commitment to international cooperation and best practices in combating terrorism financing. The country continues to work closely with other nations to share intelligence and coordinate anti-terrorism strategies.

• Shares information on suspected terrorist financiers with other countries
• Participates in regional and international forums to combat terrorism financing

By implementing these amendments, Seychelles has demonstrated its commitment to preventing terrorism financing and upholding international standards. The country’s efforts have been recognized globally, and it will continue to play a leading role in combating this global threat.