FIU protects Seychelles’ reputation

Quote: "
The founding of an agency such as the FIU represents a threat to a nexus of criminality linking international criminals with corrupt practices.

International experience has shown that those linked to such criminality will attempt to arouse a concerted negative public response, both through the media and attempts to lobby powerful individuals, in reaction to the threat to their illicit interests.

If substantial assets are discovered, and the suspect is unable to adequately account for how they have been acquired, the FIU is then able to build a case against those assets."

We have read the nation article. This is the same garbage we were all being dished out by the many USA relevant institutions and their politicians before the mega financial and economic melt down - all those who proteseted of the corruption then and labelled as criminal and Terrorist to shut them up . Had not the mega financial melt down taken place nobody would have been wiser.

The USA the biggest Democratic nation supposedly, its many politicians and institutions, started that war in Iraq to rob its people and nation - those who joined in and decided it was legitimate. Including the first Iraq war - Saddam was set up, the Balkan War

Now we come to Seychelles - Those form the USA involved with the mega Syndicate/conglomorate around FA Rene and the SPPF who syphoned all the massive wealth, beneifts, multinational corporate connections and important heritage of our EU community to fill their coffers and bank account before the SIROP etc exile return program, the Phase lll developement, the Lehman Brothers debacles . That agency had better start doing its work there and who set the policy as to who is corrupt and crooked.

What about all those who have lost property in Seychelles - never to be compensated. The politicians, the army and those so call experts who have benefited. in the past and those so call new experts.

Many EU Institutions have been alerted and know of the corrupted practices. Including their politicians.

The crooked and corrupted system goes on. We want to remind those who work in those agencies - you are supposed to have that extra bit of knowledge and grey matter. You ought to know what we are saying here. If you continue to abuse and join those who pilfer, raid our Sechelles - Seychelles EU Community heritage and good will - sooner or later what will happen. When that happens - you will not be there - you will just pack you bag and flee and leave the mess behind as usual.

Do yoiu want us to systematicaly expose every events and issues - incidents.

FIU protects Seychelles’ reputation - 30.07.2009

The Financial Intelligence Unit (FIU) is now investigating the laundering of money from illegal activities as wideranging as drug trafficking, fraud and nuclear weapons technology proliferation as it fights to protect Seychelles’ international reputation.


Operating under the recently passed Proceeds of Crime Act and the 2008 amendment to the Anti-Money Laundering Act, the FIU follows the financial trail left by criminals seeking to launder money raised through criminal activities.

While most cases pursued by the unit target money obtained by local drug traffickers, other targets include international criminals and criminal organisations involved in theft and fraud and, in one instance, nuclear weapons technology proliferation.

Under the Act, the FIU works to identify assets suspected of coming from the proceeds of crime. Once successfully identified, these can be frozen under the law to enable the unit to complete its investigations and bring the case before the courts.

In Seychelles, there are allegations that money from both domestic and international crime is being invested in land in particular, as well as in other properties and businesses. In other instances, it is also alleged that criminal money from overseas is simply being “hidden” in Seychelles bank accounts or transferred through here in an attempt to disguise its true nature.

By preventing local drug traffickers from enjoying the proceeds of their illegal activities and by preventing international criminals from exploiting Seychelles as a financial jurisdiction through which to launder their funds, the FIU is helping to improve the country’s reputation among international bodies and legitimate international investors.

With the active support of the local banking sector and the Seychelles International Business Authority, the unit is well positioned to provide serious deterrence to international criminals seeking to move funds through Seychelles, while at the same time encouraging investment by legitimate businesses, whose primary concern is that in the best interests of their reputation they only invest in well-regulated, clean jurisdictions.

Although new here, the practice of investigating criminal assets is well-established internationally, and Seychelles can learn from international experience. To successfully hide the proceeds of crime, criminals need the cooperation of a small minority of legal and financial professionals who, for a price, are prepared to help in setting up companies, bank accounts or property transfers to disguise the true nature of criminally-derived money.

The founding of an agency such as the FIU represents a threat to a nexus of criminality linking international criminals with corrupt practices.

International experience has shown that those linked to such criminality will attempt to arouse a concerted negative public response, both through the media and attempts to lobby powerful individuals, in reaction to the threat to their illicit interests.

As well as working alongside other law enforcement agencies such as the police, the Seychelles Revenue Commission and the National Drug Enforcement Agency (NDEA), the FIU also relies on links established with similar organisations worldwide, enabling it to identify criminally obtained assets from both local and international activities.

The unit’s work in combating drug crime has often been required when there is insufficient evidence for the NDEA to make a criminal prosecution.

If substantial assets are discovered, and the suspect is unable to adequately account for how they have been acquired, the FIU is then able to build a case against those assets.

Assets finally seized by the courts can then be handed over to a receiver to be returned to the people of Seychelles via the exchequer, thereby contributing to the country’s development instead of the enrichment of criminals.

Source: Seychelles nation

Note: We ask those who have had any elite qualification at SIM - those from the Central Bank, Seychelles Developement Bank, the special forum adviceing the president., indeed the several special fraud agency in Seychelles and the region. If you did not know we will help you all to remember it was about this time last year 2008 that the situation strated to brew in London which caused the eruption in the USA. given the many similar situation we have been through added measures this year. on our part. We still offer the challenges to anybody in Seychelles from the police, the army special agency and the church or the NGO in Seychelles- we can clean both Seychelles, African Union and Europe provide me/us with just one trust worthy/reliable person to do waht we have to do and watch the outcome. That does not mean I/we will not attempt it alone and all of those crooks, corrupted in seychelles will invent excused, experts reason what happenned and why it happenned.