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November 2019
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Message from the Director

Money laundering, terrorist financing and other serious financial crimes are issues which impact all members of the global community, threatening the right to peaceably enjoy one’s life. These crimes go beyond financial gain! An illegal activity from which the proceeds of crime are obtained or monies intended to be used in furtherance of a criminal act, have devastating effects on many innocent people and can never therefore be viewed as ‘victimless crimes’.

 

The Saint Vincent and the Grenadines Financial Intelligence Unit (SVGFIU) aims to ensure the social and economic security of all Vincentians by tackling these crimes in close partnership with our stakeholders.

 

Owing to the transnational nature of these crimes, Saint Vincent and the Grenadines like many countries around the world has put mechanisms in place to combat these scourges. The establishment of a Financial Intelligence Unit is a critical tool in this area. The SVGFIU, a hybrid Unit, is responsible, inter alia, for the receipt and analysis of Suspicious Activity Reports (SARs) which may relate to money laundering, terrorist financing or other serious financial crimes; the investigation of these offences; and the supervision of Non-Regulated Service Providers (otherwise known as Designated Non-Financial Businesses and Professions).

 

International cooperation is critical and is actively pursued and fostered by the SVGFIU including through our Secondment Programme and membership in the Caribbean Asset Recovery Inter-Agency Network (ARIN-CARIB), of which Saint Vincent and the Grenadines was the inaugural President (January 2018 - January 2019).

 

While the road to ensuring compliance with Anti-Money Laundering and Counter Financing of Terrorism legislation may be an arduous one, we are energised by what comes after – the many intangible benefits that accrue to us as a nation, as a region, and as an international community when we uphold the rule of law and safeguard our people.

 

The objective of the SVGFIU over the last seventeen (17) years of its existence has been, and remains – taking the profit out of crime!

 

LaTeisha A.R. Sandy

Director

Non-Regulated Services Providers

This Guidance was compiled by the St. Vincent and the Grenadines Financial Intelligence Unit (“FIU”) to offer guidelines to the Non-Regulated Service Providers (NRSPs) on the implementation of Anti-Money Laundering and Counter Terrorist Financing ...
Section 155 of the Proceeds of Crime Act, 2013 and Regulation 3 of the Non-Regulated Service Providers Regulation, 2019, require that all entities which fall under the NRSP sector be registered by the FIU or be liable of an offence. Registration ...
All entities which fall under the NRSP sector are required to routinely monitor for suspicious activity when conducting their business. Such activity is to be reported by way of the Suspicious Activity Reporting (SAR) Form SARS   Examples of ...