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How Safe Is Your Money in Seychelles?

 
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dackkock



Joined: 11 May 2014
Posts: 8
Location: Paris

PostPosted: Sun May 11, 2014 3:57 am    Post subject: How Safe Is Your Money in Seychelles? Reply with quote

If you are visiting Seychelles or plan on doing business in the island nation (or at least plan on housing money inside banks throughout Seychelles) you need to be aware of a few different issues, because it is actually possible to have all of your money frozen and accounts blocked from any transactions, all with very little to no warning at all. The last thing you want to do is attempt to make a transaction with an account, only to find out it has been blocked and there is no way to obtain your money again.

There is one thing to take into consideration when opening up a business or bank account in Seychelles. If the Financial Investigative Unit of the country believes you could be using the money for wrongdoing or something illegal, it is going to freeze your account. The problem is how the FIU comes about this information. In fact, if it receives a phone call or a letter regarding your account and how it might be suspicious with certain activity it is going to freeze your account. There are many reasons as to why the country does this, as it doesn't want to stem specific illegal operations as it doesn't have extensive financial outlets in order to monitor and take care of such a situation, so instead the country goes about blocking everything ahead of time, until the individual such as yourself is able to prove nothing is illegal or going on with the account.

Because the government is able to block and freeze your account whenever it feels like it or thinks something is wrong it is very important for you to think twice about opening up an account and doing business within the nation (or using it to open up bank accounts) as it could end up backfiring.
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