Regulatory Alerts2026-01-01
Circular No. 1 of 2026 - Assessment of ML TF Risks For New Products, Business Practices And Technologies
The Financial Services Authority (FSA) requires all reporting entities under the Seychelles AML/CFT Act to identify and assess money laundering and terrorist financing risks before launching new products, business practices, or technologies. Entities must evaluate key risk factors including customer profiles, geographic reach, service delivery methods, and technological developments, then implement appropriate mitigation measures. The outcomes of these assessments must be formally documented and submitted to the FSA upon request, with explicit confirmation if no new products or technologies have been introduced.
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