Seychelles must act fast on money-laundering, says central bank
Failure to act could lead to major damage from loss of correspondent banking, report says
Authorities in the Seychelles need to take urgent action to improve its reputation as a jurisdiction with a high risk of money laundering, the country’s central bank warns in its first financial stability report.
If this action is not taken, the Seychelles could lose access to correspondent banking relationships, which would threaten the ability of the country’s banks to conduct international transactions, the Central Bank of the Seychelles says in the inaugural report.
“For an import
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