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Saint Vincent and the Grenadines: Double Tax Treaties

Financial Intelligence Unit

A Financial Intelligence Unit (FIU) was established in Saint Vincent and the Grenadines in May 2002, in accordance with the terms of the Financial Intelligence Unit Act 2001.

The functions of the FIU include:

  • receipt and analysis of suspicious transaction reports that are required to be made under the Proceeds of Crime and Money Laundering (Prevention) Act, Act No. 39 of 2001;
  • collection of information from financial institutions and other relevant bodies for the purpose of investigating relevant offences;
  • investigation of relevant offences;
  • dissemination of information;
  • international cooperation in the exchange of financial information;
  • awareness raising and education of financial and business institutions on their obligations to detect, prevent and deter money laundering and associated offences.

The FIU works in close partnership with other national agencies to ensure that the country has a comprehensive anti-money laundering system that identifies and effectively addresses suspected illegal activity.

The FIU was accepted into membership of the Egmont Group of Financial Intelligence Units in July, 2003. The Group acts as a global focus for the work and development of Financial Intelligence Units; more than 80 countries have membership of the Group.

 

 

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