There is no currency control in Seychelles, the Minister for Internal Affairs, Errol Fonseka, has reiterated.
In the National Assembly sitting of September 21, 2021, Hon. Gervais Henrie, elected member for Mont Buxton, tabled a question seeking more information on the emerging pattern whereby the Financial Crime Investigation Unit (FCIU) is conducting searches on residents travelling abroad at the airport.
Speaking in a press meet yesterday at his office at Independence House Annex,
Minister Fonseka once again explained that the Anti-Money Laundering and Counter Financing of Terrorism Act enacted recently imparts powers, in Section 74 (1), to law enforcement officers to search individuals in the Seychelles jurisdiction or on their property, without a warrant if the person has in their possession large sums of money unjustifiably, has the funds as a proceeds of criminal activity, or has in their possession more than R50,000 but is undeclared either upon entry or exit from the country.
Section 74 (2) imparts to officers powers to seize the said money, and for the funds to be detained for fourteen days. After fourteen days, an application must be filed to the court to justify why the funds need to be detained for longer.
“In Seychelles, we do not have currency control. Anyone is free to go to the bank to get foreign exchange and import their goods. However, any person leaving the country with more than R50,000, has to have a certified declaration of where the money is generated from. There is no restriction in that case. But regarding Anti-Money Laundering and Counter Terrorism financing, if ever there is any doubt about someone leaving the country with more than the permitted amount, FCIU, normal guards, customs, immigration, have the right to make an arrest. If there is any information that the money carried by a passenger may derive from proceeds of crime or for the planification of an act of money laundering, drug transaction, we have all the rights to make an arrest. It is through the information gathered through our department and it remains confidential. If you declare your money, there will be no problem,” reassured the minister.
According to the deputy Commissioner of Police, Francis Songoire, who is also responsible for the Anti-Narcotics Bureau (ANB), some 20 people so far, since the beginning of this year, have been subject to these searches.
He also shared that currently procedures are being put in place for all money seized on people to be easily returned upon completion of the investigation, if there is no suspicious activity.
The press conference was also attended by the principal secretary for Immigration Alain Volcère.
Source: Seychelles Nation
