Investigation into alleged links to money laundering in offshore sector underway
The CEO of the Seychelles Financial Services Agency , Dr. Steve Fanny and the Secretary of State for Finance Patrick Payet have said that there is an ongoing investigation on, into allegations of links to money laundering, in the country’s offshore sector.
This follows the circulation on social media of certain documents which purportedly shows that certain offshore companies in which some Seychellois have interests, are under international scrutiny as being involved in money laundering. Along with the banking transaction details of one of these companies, from a bank in Seychelles, the leaked documents also include one which names some individuals with family names which are very prominent in Seychelles. The leaked documents referred to as Offshore Leaks were part of a breaking news by the BBC, which claimed to reveal worldwide money-laundering. One of the three persons named, shares the same family name as the Finance minister who is also the incumbent President’s running mate in the forthcoming presidential elections.
S.S. Payet told the media that the matter is currently under investigation, but that he could not put a time frame to the inquiry.
“Such investigations are not simple. If there is any wrong doing, it would most probably be covered under different layers. Therefore an inquiry will have to dig deep and inspect the various layers to determine the crime, if any exists!”
He added that recent developments in the United States have shown that some media houses published fake news on such topics and have been subjected to prosecution and heavy fines have been imposed.
“To protect the investigation and for us to comply with the international regulations in place when conducting such inquiry, we cannot reveal the details of this inquiry before it is completed, so as not to compromise its results.”
He did however, give his word that the media would be kept abreast of any significant development at intervals as the investigation goes on.
Payet also explained that the publication of banking transactions from individuals or companies accounts does not necessarily mean there is illegal activity going on.
