President assents to Private Members Bill

The Office of the President has confirmed that President Danny Faure assented, on Monday 3rd July, to a Private Member's Bill, approved by the National Assembly, amending the Proceeds of Crime (Civil Confiscation) Act 2008, to bring the provisions of the Act in line with international best practice. A key element of the amendment will be that the freezing of bank accounts in suspected criminal cases will now come under the purview of the Financial Intelligence Unit, which has the necessary forensic expertise to discharge this function. The confiscation, under the Act, of physical assets will continue to be undertaken by the Police or the NDEA.

Source: State House, Office of the President of the Seychelles

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