Downloads
Links
Supervision of Non-Regulated Service Providers (NRSPs)
(Otherwise called Designated Non-Financial Businesses and Professions (DNFBPs))
Supervisory Authority for NRSPs
Pursuant to Regulation 36 (b) of the Anti-Money Laundering and Terrorist Financing Regulations 2014, as amended by S.R.O No.25 of 2017 (AMLTFR), the Saint Vincent and the Grenadines Financial Intelligence Unit (SVGFIU) is designated as the supervisory authority of Non-Regulated Service Providers (NRSPs) which comprises of:
- Real estate agents
- Casinos
- Car dealers
- Jewelers
- Lawyers, Notaries, Accountants and Auditors who engage in the following activities:
- buying and selling of real estate
- management of client money, securities or other assets
- management of bank, savings or securities accounts
- organisation of contributions for the creation, operation or management of companies
- creation, operation or management of legal persons or arrangements
Over the years, the SVGFIU has conducted various training and awareness raising sessions/workshops to sensitise NRSPs of their Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) obligations pursuant to the AMLTF Regulations. The Supervisory Department was subsequently established on 15th August, 2018.
Read more: Supervision of Non-Regulated Service Providers (NRSPs)
Message from the Director
Money laundering and terrorist financing are serious international issues which threaten right to life, civil liberties and the right to property. St Vincent and the Grenadines has joined countries around the world to attack money laundering and terrorist financing and those who would seek to benefit from these criminal acts. A Financial Intelligence Unit (FIU) has been established in Saint Vincent and the Grenadines. The functions of this specialized agency include receipt and analysis of suspicious Activity Reports (SARs) which may relate to money laundering or terrorist financing and the investigation of money laundering, terrorist financing and other serious financial crimes.
