Financial Crime Assessment Seychelles

The financial crime assessment for Seychelles in August 2023 highlights significant risks and challenges faced by the country. Money laundering, corruption, and drug trafficking are major concerns. The Financial Intelligence Unit (FIU) supervises reporting entities and rates their risk levels. Seychelles has launched an Anti-Money Laundering and Countering the Financing of Terrorism Strategy to align with international standards, strengthen cooperation, enhance capacities, implement risk-based supervision, and improve intelligence and investigations. However, corruption within law enforcement structures remains a problem, with reports of drug dealers being released after payoffs and instances of bribery and collusion. Efforts have been made to address corruption through the establishment of an independent Anti-Corruption Commission, but more progress is needed. Overall, Seychelles faces ongoing challenges in combating financial crimes and ensuring transparency and integrity in its financial system.