Seychelles, non-cooperative lists and their impact

The European Commission and in particular the EU Finance Ministers, updated their list of non-cooperative tax jurisdictions.

Cayman Islands, Palau, Panama and Seychelles failed to comply with a set of required standards within the deadline, and as a result now joined this list already made up of other non-cooperative tax jurisdictions.

Non-cooperative tax jurisdictions – high-risk countries are countries, non-EU members, or contracting parties of the EEA. They are designated by the European Commission, as they present strategical shortcomings in their national system for combating money laundering (ML) and terrorism financing (TF). These are considered important threats for the European financial system and must be categorised by the obliged entities as high risk in accordance with the risk assessment foreseen by the AML/CFT Law.

What does this mean for your entity or group structure?

Join us in our AML seminars 👇, where we discuss how to identify, assess and manage risks arising from customers, countries and geographical areas, products, services and transactions, and delivery channels.

Please contact us at info@salvusfunds.com for more information and to register in our AML seminars.

Seminar Schedule

Day 1
– The introductory provisions, Abbreviations and Definitions
– Understanding money laundering, terrorist financing and sanctions
– Legal and regulatory requirements
– The AML compliance culture

Day 2:
– Assessing and managing risks
– Know your customer (KYC) and customer due diligence (CDD)
– Transaction monitoring and suspicious reporting

Day 3
– Recap of the delivered material
– Compact notes and summary tables will be provided
– 2 Mock-up exams

For registrations contact us at info@salvusfunds.com