Alerts & Advisories

Online e-Filing Portal

Downloads

Links

Notice To All Virtual Assets Service Providers and Persons Seeking to Conduct Business as a Virtual Asset Service Provider / Engage in Virtual Assets Business Activity in Saint Vincent and the Grenadines

ADVISORY: Holiday Scam Alert

ADDITION OF MYANMAR TO THE FATF LIST OF HIGH-RISK JURISDICTIONS

Please be advised that on October 21, 2022, following the completion of the FATF Plenary, a decision was taken by the FATF to place Myanmar on the list of high-risk jurisdictions subject to call for action. The FATF is advising jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from that jurisdiction.

Myanmar is the third country to be added to the list of high-risk countries that includes Iran and the Democratic Republic of North Korea (DPRK). However, unlike Iran and DPRK which are subject to more stringent measures (application of countermeasures), countries (including reporting entities) are only required to apply EDD measures proportionate to the risk for transactions and activities, etc involving Myanmar.

It is important that countries take action when called upon to do so by the FATF and independently of any call from the FATF to do so, to comply with the obligations of Recommendation 19.

WARNING NOTICE: PYRAMID SCHEMES IN SVG

ADVISORY FOR FINANCIAL INSTITUTIONs

AND NON-REGULATED SERVICE PROVIDERS (NRSPs)

COVID-19 AND ITS IMPACT ON FINANCIAL CRIMES - INTERNATIONAL TRENDS

ADVISORY: COVID-19 Related Scams

REFRAIN FROM:

Providing personal, banking or financial information via the phone, email, social media or text.
Purchasing medical or protective equipment online from disreputable or questionable sources.
Downloading suspicious attachments or links.

UNLESS:

You verify the legitimacy of the request or transaction by directly contacting or researching the relevant governmental office, health office, charitable or official organization.
You seek verification from guidelines issued by:
1. The government regarding the disbursement of stimulus payments or COVID-19 contact tracing procedures.
2. Financial Institutions as it pertains to online banking verification procedures.

ADVISORY: Foreign Exchange (FOREX) Trading and

Cryptocurrency offerings

The St. Vincent and the Grenadines Financial Services Authority (FSA) and the Financial Intelligence Unit (FIU) hereby issues the following warning:

The Authorities in St. Vincent and the Grenadines are aware of the recent growing international trend of Forex Trading and Cryptocurrency. It is advised however, that there is no regulation in place for Foreign Exchange (Forex) Trading and Cryptocurrency offerings in St. Vincent and the Grenadines. Furthermore, no Forex Trading or Cryptocurrency licenses are issued in St. Vincent and the Grenadines. These are speculative investments with considerable risks to the investor.

Members of the public are urged to exercise caution before engaging in any Forex Trading activities or accepting Cryptocurrency offerings.

Joint Statement by the Relevant Authorities in St. Vincent and the Grenadines on Allegations of ‘Money Laundering’.

The relevant authorities in St. Vincent and the Grenadines, namely, the National Anti-Money Laundering Committee (NAMLC), the Financial Services Authority (FSA) and the Financial Intelligence Unit (FIU) hereby issue a joint statement strongly denouncing the description of St. Vincent and the Grenadines as being 'notorious for money laundering' and a 'prime money laundering destination'.