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25 August 2020


25 August 2020

The Offences and Penalties document is...

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St.Vincent and the Grenadines has been a member of The Egmont Group of Financial Intelligence Units since July 2003. It is an informal international gathering of financial intelligence units (FIUs). The Group was formed in 1995 and consists of 116 countries which have created FIUs. The FIUs are responsible for collecting information on suspicious or unusual financial activity from the financial industry and other entities required to report transactions suspected to be related to money laundering or terrorist financing.

Obtaining assistance from the FIU

If a requesting country requires information regarding matters in St.Vincent and the Grenadines for intelligence purposes only, upon receipt of the request via Egmont or other means, a formal letter of request is sent to the requisite body on the country’s behalf and the response relayed to them.

If however the information is required for use in Court proceedings, a formal request must be sent to the Central Authority of St.Vincent and the Grenadines, the Honourable Attorney General.

This request would then be forwarded to the office of the FIU where we would seek to obtain a Production Order from the Court as provided for in our legislation, outlining the reasons why the information is required as provided by the requesting country. If the Judge is so minded, the Order is granted then served on the Institution from whom the information is requested, compelling them to provide the requested information within a certain time period, usually ten (10) days. The information is then sent to our office and we in turn forward it to you.

SVG provides for mutual assistance in Criminal matters between Commonwealth and non-Commonwealth countries and St.Vincent and the Grenadines by way of the Mutual Assistance in Criminal Matters, Cap 177 of the Revised Laws of 2009. The Act covers requests for General assistance in obtaining evidence, locating or identifying persons, Obtaining articles or things by search and seizure if necessary, Arranging attendance of persons, Securing transfer of persons, Serving documents, Restriction on use of evidence, Immunities and privileges. Assistance in serious offences covers Tracing property, certain orders and obtaining orders in nature of Restraining Orders.

Another piece of local legislation is the Exchange of Information Act, Cap 146 of the Revised Laws of 2009 which states that a domestic regulatory authority of whom a request is made shall not exercise the powers conferred unless, in relation to a request for assistance by a foreign regulatory authority, the nature and seriousness of the matter to which the inquiry relates would warrant the disclosure of the information by a domestic regulatory authority if such information were to be requested in Saint Vincent and the Grenadines; and one or more of the following conditions are satisfied, namely that, the assistance is necessary for the purpose of enabling or assisting another domestic regulatory authority or a foreign regulatory authority in the exercise of its regulatory functions; the assistance requested by a foreign regulatory authority is pursuant to an agreement to which Saint Vincent and the Grenadines and the State of the foreign regulatory authority are parties; the foreign regulatory authority gives a written undertaking to provide corresponding assistance to a domestic regulatory authority and fourth, the State of the requesting foreign regulatory authority has enacted similar laws with regard to the exchange of information.

Non-Regulated Services Providers

(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 ...
The Offences and Penalties document is a summarization of the various offences under the Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) laws of St. Vincent and the Grenadines. Non-Regulated Service Providers (NRSPs) must ...
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 ...