Seychelles Bankers Association |05 September 2019
Mr Moustache
Phillip Moustache appointed chairman
The Seychelles Bankers Association has announced the appointment of Phillip Moustache as its new chairman with effect from August 1, 2019.
Mr Moustache worked with the Central Bank of Seychelles (CBS) for 31 years in the bank supervision department and was responsible for the inspection of financial institutions such as banks and bureau de change.
In 2006, he set up the Financial Intelligence Unit (FIU) as a unit within the Central Bank of Seychelles and was seconded there as its director. With the amendments to the Anti-Money Laundering Act and the enactment of the Proceeds of Crime Act in 2006, he assumed the post of compliance director and was responsible for the inspection of reporting entities such as banks, bureau de change, insurance companies, corporate service providers, real estate agents, etc, and their compliance to the legislative requirements.
In 2013, he got the FIU accepted as a member of the Egmont Group in accordance with the requirements of Recommendation 29 of the Financial Action Task Force (FATF).
Following the first round of the mutual evaluation in 2006, he was responsible for following up on the recommendations contained in the report and was successful in getting Seychelles to stop submitting progress reports to the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) in 2016, the only country in the region to achieve this feat so far
He was appointed as the FIU director in October 2016 until he retired in March 2019 after having spent 13 years there.
During his tenure, he oversaw the second round of the mutual evaluation, completed the national risk assessment in accordance with recommendation 1 of the FATF and organised the ESAAMLG Council of Ministers Meeting and Task Force of Senor Officials meeting held in Seychelles in 2018.
He represented Seychelles in numerous international conferences and held the post of ESAAMLG chairman until his retirement in February 2019.
In addition to making presentations on compliance, anti-money laundering and terrorism financing locally, he has also made such presentations internationally.
Mr Moustache will be responsible for liaising with the various stakeholders and represent the bankers in different meetings.