Downloads

Advisory: Foreign Exchange (FOREX) and Cryptocurrency offerings

ADVISORY: Foreign Exchange (FOREX) Trading and

Cryptocurrency offerings

The St. Vincent and the Grenadines Financial Services Authority (FSA) and the Financial Intelligence Unit (FIU) hereby issues the following warning:

The Authorities in St. Vincent and the Grenadines are aware of the recent growing international trend of Forex Trading and Cryptocurrency. It is advised however, that there is no regulation in place for Foreign Exchange (Forex) Trading and Cryptocurrency offerings in St. Vincent and the Grenadines. Furthermore, no Forex Trading or Cryptocurrency licenses are issued in St. Vincent and the Grenadines. These are speculative investments with considerable risks to the investor.

Read more: Advisory: Foreign Exchange (FOREX) and Cryptocurrency offerings

Press Release by SVG Authorities on Allegations of 'Money Laundering'

Joint Statement by the Relevant Authorities in St. Vincent and the Grenadines on Allegations of ‘Money Laundering’

The relevant authorities in St. Vincent and the Grenadines, namely, the National Anti-Money Laundering Committee (NAMLC), the Financial Services Authority (FSA) and the Financial Intelligence Unit (FIU) hereby issue a joint statement strongly denouncing the description of St. Vincent and the Grenadines as being ‘notorious for money laundering’ and a ‘prime money laundering destination.’...

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.

The Unit will be managed to fulfill its functions under the FIU Act and in making an impact in the fight against money laundering and terrorist financing, locally regionally and internationally. Our vision is to have financial and business sectors that are free of money laundering and terrorist financing and other major financial crime. To achieve this goal we will work closely with financial institutions and relevant business entities that are required to report suspicious transactions to the FIU. The financial institutions in St Vincent and the Grenadines have a key role to play in the fight against money laundering and in ensuring that the country’s financial system is seen as a sound and healthy system, which is conducive to investment. The staff of the FIU is ready to assist the financial and business sectors to fulfill their anti-money laundering obligations. The FIU is working in close partnership with other national agencies to ensure that the country has a comprehensive anti-money laundering and counter financing of terrorism regime that identifies and effectively addresses suspected illegal activity.

The FIU is also committed to active cooperation with foreign FIUs and law enforcement agencies against money laundering and terrorist funding. We understand and appreciate the global nature of money laundering and other financially based crimes and we will continue to strengthen our cooperative effort, both in the Caribbean region and in the wider international community.

The intent of the FIU is to put the criminals out of business by draining their resources: to take the profit out of crime.

Director
Financial Intelligence Unit