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VISION To ensure a safe and vibrant financial and business sector free from money laundering, terrorist financing and other financial crimes, and to be recognized as a financial intelligence unit of excellence in the global fight against money laundering and terrorist financing. MISSION To assist in protecting the integrity of Saint Lucia’s financial system and to prevent its abuse by criminals through the detection and dete...
...ENCE AUTHORITY REGISTER OF SUPERVISED ENTITIES Pursuant to Section 4 of the Registration of Supervised Entities Act No. 12 of 2023 (ROSEA), the following categories of persons engaged in other business activities are required to register with the Financial Intelligence Authority (the Authority): A Motor Dealer licensed under the Motor Vehicles and Road Traffic Act, Cap. 8.01 (MVD) A person involved in transactions for a client concerning the buying and selling of real estate (REA) A Dealer in Precious Metals or Stones, when engaging in any transactions equal to or exceeding $25,000 (DPM) An Attorney-at-Law or Accountant, when they carry out transa...
...bsp; Circular 008.2023 - Extension of Registration with the FIA Circular 007.2023 - Appointment of Alternate Compliance Officer Circular 006.23 - Deadline for Registration of Supervised Entities Circular 005.23 - Application for Registration with the FIA Circular 004.2023 - Money Laundering (Prevention) Regulations Circular 003.2023 - 2023 MLPA Amendments Circular 002.2023 - Registration of Supervised Entities Act Terrorist Disclosure (Obligation) NOTICE - Requirement to Register with the FIA Circular to Reporting Entities (Real Estate Investment b...
Guidance to Reporting Entities on Suspicious Activity Reportin (May 2023) Guidance on the Identification & Verification of Beneficial Owners (May 2022) Guidance to MSBs (Class A-D) on their Sub-Agents (May 2022) Guidance on the Application of a RBA & Conduct of a Risk Assessment (March 2022) Guidance to Reporting Entities on ...
FATF Advisories - Jurisdications Under Increased Monitoring (June 2024) FATF Advisories - High Risk Jurisdictions Subject to a Call for Action (June 2024)
Anti-Terrorism Act - Cap. 3.16 Anti-Terrorism (Amendment) Act No.28 of 2019 Anti-Terrorism (Amendment) Act No.8 of 2023 Money Laundering (Prevention) Act - Cap.12.20 (2020 Revision) Money Laundering (Prevention) (Amendment) Act No.20 of 2016 Money Laundering (Prevention) (Amendment) Act No.13 of 2019 Money Laundering (Prevention) (Amendment) Act No.16 of 2021 Money Laundering (Prevention) (Amendment) Act No.5 of 2023 Money Laundering (Prevention) (Amendment) Act No.18 of...
Overview The Financial Intelligence Authority (the FIA) was established in October 2003 pursuant to the provisions of the Financial Intelligence Authority Act 2002 and continued its operations under the Money Laundering (Prevention) Act, Chapter 12.20 of the 2013 Revised Laws of Saint Lucia (the MLPA). The FIA is responsible for receiving, analysing, obtaining, investigating and disseminating information which relate to the proceeds of criminal conduct and in particular information derived from suspicious transaction reports (STRs...
The Financial Intelligence Authority (FIA) remains committed to its mandate in the fight against money laundering, terrorism financing and other financial crimes. For too many years financial intelligence has been both undervalued and underfunded. Today with the significant progress and achievements made by the Authority within the last few years, particularly in the area of law enforcement, the usefulness and potential of financial intelligence ...
Money laundering and the financing of Terrorism is an international problem which serves to compromise the efficiency and stability of a country’s financial system. The events of September 11, 2001 have heightened international concern especially with regard to the financing of terrorism. The International Monetary Fund has stated that the aggre...
Customer due diligence or background checks is closely associated with the flight against money laundering. Financial institutions and certain other business activities are required by law under the Money Laundering (Prevention) Act to carry out identification and verification of identity procedures before entering into a business relationship with a potential customer or client. ...
Yes, if the Compliance Officer decides that the information does substantiate a suspicion of money laundering, he or she should disclose this information immediately. If he or she is genuinely uncertain as to whether such information substantiates a suspicion, he or she should nevertheless submit the report. It is also an offense if a person fails to report a suspicious transaction relating to money laundering .
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Customer due diligence or background checks are closely associated with the fight against money laundering. Financial institutions and certain other business activities are required by law under the Money Laundering (Prevention) Act to carry out identification and verification of identity procedures before entering into a relationship with a potential customer or client. Instituti...
The Caribbean Financial Action Task Force (CFATF) is a Financial Action Task Force (FATF) Styled Regional Body (FSRB) with a membership of twenty-five (25) Caribbean and South American States, Saint Lucia being one such member. View Video to Learn More.. ...
The enactment of the Registration of Supervised Entities Act No. 12 of 2023 requires specified persons engaged in Other Business Activities to REGISTER with the FIA. View Information below to Learn More.. NOTICE - Requirement to Register Circular 002.2023 - Registration of Supervised Entities Act...
