Caribbean Financial Action Task Force

Caribbean Financial Action Task Force The Caribbean Financial Action Task Force (CFATF) is an organisation of twenty-five (25) states of the Caribbean Basin, Central and South America, which have agreed to implement common countermeasures to address money laundering.

Operating as usual

17/03/2021

As a result of the Cayman Islands’ progress in strengthening its framework to tackle money laundering and terrorist financing since their 2019 mutual evaluation, the Caribbean Financial Action Task Force (CFATF) has re-rated the country on 16 of the 40 Recommendations.

The Cayman Islands has been in an enhanced follow-up process, following the adoption of their CFATF Mutual Evaluation Report, which assessed the effectiveness of Cayman Islands’ Anti-Money Laundering and Counter-terrorist financing (AML/CFT) measures and the country’s compliance with the FATF Recommendations. In line with the CFATF Procedures for Mutual Evaluations, Cayman Islands has reported back to the CFATF on the progress it has made to strengthen its AML/CFT framework.

The FUR can be accessed at the following link: https://lnkd.in/dFxEQyC

The Caribbean Financial Action Task Force is strengthening capacity at its Secretariat through the appointment of a Depu...
16/03/2021
Job Opportunity - Deputy Executive Director

The Caribbean Financial Action Task Force is strengthening capacity at its Secretariat through the appointment of a Deputy Executive Director.

The deadline for the submission of applications is April 6, 2021.

Kindly see the advertisement for details of the position via the following link: https://lnkd.in/g-kAV7a

Official Website of the Caribbean Financial Action Task Force

The Government of the Cayman Islands confirmed that it will work to fulfil the requirements of a 15-month action plan by...
03/03/2021
Cayman Islands Government on LinkedIn: https://www.gov.ky/news/press-release-details/cayman-commits-to-aml-and-cft-effectiveness

The Government of the Cayman Islands confirmed that it will work to fulfil the requirements of a 15-month action plan by the FATF to address the remaining recommendations by that body to strengthen its anti-money laundering regime.

Read more here: https://www.linkedin.com/posts/cayman-islands-government_httpswwwgovkynewspress-release-details-activity-6770776879113744384-vt--

Government confirmed today that it will work to fulfil the requirements of a 15-month action plan by FATF to address remaining recommendations by that ...

28/02/2021
FATF

FATF Guidance on Virtual Assets- Red Flag Indicators of Money Laundering and Terrorist Financing-to help detect suspicious activity- dated September 2020.

The FATF is working to guard against the money laundering and terrorist financing risks linked to Virtual Asset Service Providers (VASPs). We have issued guidance to help detect suspicious activity. See more here➡️ https://bit.ly/3pTymoq

#FollowTheMoney #antimoneylaundering #terroristfinancing #cybersecurity #security #datasecurity #cyberattack #informationsecurity #dataprotection #infosec #cyber #money #cybercrime

See the outcomes of the FATF plenary held virtually February 22, 24 and 25, 2021.
28/02/2021

See the outcomes of the FATF plenary held virtually February 22, 24 and 25, 2021.

That's a wrap! The FATF plenary has concluded. Delegates of governments from around the world discussed a range of money laundering and terrorist financing issues. See the outcomes of the plenary here: https://bit.ly/37Nl5Yp #FollowTheMoney

16/02/2021
cfatf-gafic.org

As a result of Barbados’ progress in strengthening its framework to tackle money laundering and terrorist financing since their 2018 mutual evaluation, the Caribbean Financial Action Task Force (CFATF) has re-rated the country on 13 of the 40 Recommendations.

Barbados has been in an enhanced follow-up process, following the adoption of their CFATF mutual evaluation report, which assessed the effectiveness of Barbados’ anti-money laundering and counter-terrorist financing (AML/CFT) measures and the country’s compliance with the FATF Recommendations.

In line with the CFATF Procedures for mutual evaluations, Barbados has reported back to the CFATF on the progress it has made to strengthen its AML/CFT framework.

The Follow-Up Report (FUR) report analyses Barbados’ progress in addressing the technical compliance deficiencies identified in the Mutual Evaluation Report.

Click here to access the FUR: https://lnkd.in/d5JxkaE

The CFATF Plenary held virtually in December 2020 adopted the Mutual Evaluation Report of Saint Lucia.This evaluation su...
02/02/2021
St Lucia 4th Round MER Rev1

The CFATF Plenary held virtually in December 2020 adopted the Mutual Evaluation Report of Saint Lucia.

This evaluation summarises the Anti-Money Laundering (AML) / Counter-Terrorist Financing (CFT) measures in place in Saint Lucia as at the date of the on-site visit September 16th – 27th, 2019. The report analyses the level of compliance with the FATF 40 Recommendations, the level of effectiveness of Saint Lucia’s AML/CFT system and provides recommendations on how the system could be strengthened.

Click here for complete report: https://lnkd.in/dZwUHHJ

Official Website of the Caribbean Financial Action Task Force

02/02/2021
www.cfatf-gafic.org

As a result of Jamaica’s progress in strengthening its framework to tackle money laundering and terrorist financing since their 2017 mutual evaluation, the CFATF has re-rated the country on 19 of the 40 Recommendations.

Jamaica has been in an enhanced follow-up process, following the adoption of the CFATF mutual evaluation, which assessed the effectiveness of Jamaica’s anti-money laundering and counter-terrorist financing (AML/CFT) measures and the country’s compliance with the FATF Recommendations.

In line with the CFATF Procedures for mutual evaluations, Jamaica has reported back to the CFATF on the progress it has made to strengthen its AML/CFT framework.

Click here to access the FUR: https://lnkd.in/du9i62Y

FATF
19/01/2021

FATF

#COVID19 is presenting opportunities for criminals - but the pandemic should be a catalyst for the use of technology to improve the fight against money laundering.

See the full speech by FATF Executive Secretary David Lewis FRGS here: http://bit.ly/3nZGPW2

#FollowTheMoney #AML #moneylaundering #terroristfinancing #proliferationfinancing #financeandeconomy #duediligence #antimoneylaundering #cybersecurity #technology #money #security #cyber #cybercrime #regtech

13/01/2021

The Caribbean Financial Action Task Force is strengthening capacity at its Secretariat through the appointment of a Deputy Executive Director.

The deadline for the submission of applications is February 01, 2021.

Kindly see the advertisement for details of the position via the following link:

https://lnkd.in/g-kAV7a

The CFATF Secretariat has just published the Outcomes ofthe CFATF LI Plenary held during the period December 9th-11th, 2...
05/01/2021
CFATF LI Plenary outcomes

The CFATF Secretariat has just published the Outcomes of
the CFATF LI Plenary held during the period December 9th
-11th, 2020 on its website.

To read the full feature, please click this link: https://lnkd.in/dqD6ruk.

Official Website of the Caribbean Financial Action Task Force

The Caribbean Financial Action Task Force is strengthening capacity at its Secretariat through the appointment of a Fina...
04/01/2021
Job Opportunity - Financial Advisor

The Caribbean Financial Action Task Force is strengthening capacity at its Secretariat through the appointment of a Financial Advisor. The deadline for the submission of applications is January 21, 2021.

Kindly see the following link for details:

https://lnkd.in/dCrYRmK

Official Website of the Caribbean Financial Action Task Force

The CFATF congratulates The Bahamas for the significant progress it has made in improving its AML/CFT regime.Through the...
19/12/2020
Press Release: Bahamas Delisted From FATF Grey List

The CFATF congratulates The Bahamas for the significant progress it has made in improving its AML/CFT regime.

Through the tremendous dedication and commitment of the Attorney General – the Hon. Carl W. Bethel QC and his team, The Bahamas has been delisted from Financial Action Task Force’s Grey-List of “Jurisdictions under Increased Monitoring”.

See links for further information:
https://lnkd.in/djnpnxi

AND

https://lnkd.in/gnH4m-s

#CFATF #caribbeanfinancialactiontaskforce #antimoneylaundering #terroristfinancing #moneylaundering #FollowTheMoney #amlcft #aml

Official Website of the Caribbean Financial Action Task Force

Corruption has wider damaging implications that undermine development and democracy. It goes far beyond the concern that...
10/12/2020

Corruption has wider damaging implications that undermine development and democracy. It goes far beyond the concern that it diverts public and private resources for personal gain. In commemoration of Anti-Corruption day yesterday, please see the G20 Anti-Corruption Ministerial communique which highlighted the importance of international anti-corruption standards, including the FATF Recommendations, in the global fight against corruption. The G20 recognised the important role of these instruments in expanding the necessary international cooperation and coordination against corruption and related challenges. http://www.fatf-gafi.org/publications/corruption/documents/fatf-g20-anti-corruption-2020.html

Today is International Anti-Corruption Day. As long as corruption remains profitable, it will continue. That is why stopping money laundering is vital to making sure corruption does not pay➡️https://bit.ly/3mZxxtD

#FollowTheMoney #AntiCorruptionDay #FATFstandards #aml #money #cryptocurrency #fraud #cryptocurrencies #payments #cybersecurity

The Caribbean Region is not exempt from Trade Based Money Laundering. It is essential to have a thorough awareness of th...
10/12/2020

The Caribbean Region is not exempt from Trade Based Money Laundering. It is essential to have a thorough awareness of the different phases of the trade and whether it makes economic, legal or financial sense. See the new FATF-Egmont Group of Financial Intelligence Units report on trade-based money laundering, outlining the risks and policy responses to combat it for further information.

Trade-based money laundering involves professional money launderers exploiting the international trade system to disguise illicit cash.

Hundreds of millions of dollars are laundered each year, according to estimates.

See the new FATF-Egmont Group of Financial Intelligence Units report on trade-based money laundering, outlining the risks and policy responses to combat it: https://bit.ly/3qK9TUi

#FollowTheMoney #moneylaundering #followthemoney #terroristfinancing #tradebasedmoneylaundering #aml #Fraud #compliance #money #cybersecurity #antimoneylaundering #privatesector #regulation #trading #tradefinance #financeandeconomy #globaltrade

04/11/2020
www.fatf-gafi.org

The Financial Action Task Force (FATF) strengthens Measures related to Domestic Co-operation and Coordination (R.2) and Prevention of the Financing of Proliferation of Weapons of Mass Destruction (R.1)

In June 2019, the FATF agreed to pursue further work to strengthen the FATF Standards on countering the financing of proliferation (CFP). Following a public consultation on the draft amendments to Recommendation 1 and its Interpretive Note, the October 2020 FATF Plenary approved revisions to the FATF Recommendations. The revised Recommendation 1 and its Interpretive Note require countries and private sector entities to identify, assess, manage and mitigate the risks of potential breaches, non-implementation, or evasion of the targeted financial sanctions related to proliferation financing (PF).

The FATF also adopted changes to Recommendation 2 and a new Interpretive Note to Recommendation 2 (INR.2), to enhance domestic co-operation, co-ordination and information exchange among national authorities.

The FATF and CFATF Procedures (paragraph 4) require that countries be evaluated on the basis of the FATF Recommendations and Interpretative Notes, and the Methodology as they exist at the time of the country’s on-site visit. However, the FATF Plenary agreed to develop Guidance to assist countries and the private sector in assessing and mitigating the proliferation financing risk and further agreed that the FATF will begin assessing jurisdictions for implementation of these new requirements (related to R.1, INR.1, R.2 and INR. 2) at the start of the next (fifth) round of mutual evaluations, to allow time to put the necessary measures in place.

The full public statement can be read here: https://www.fatf-gafi.org/publications/financingofproliferation/documents/statement-proliferation-financing-2020.html

FATF President Dr. Marcus Pleyer sets out the work the FATF does to combat terrorist financing, and highlights the three...
17/09/2020

FATF President Dr. Marcus Pleyer sets out the work the FATF does to combat terrorist financing, and highlights the three-pronged approach to strengthen countries’ ability to prevent, detect, disrupt, investigate, and prosecute the financing of terrorism. During his remarks, Dr. Pleyer also emphasized the importance of public-private partnerships. See here for full speech: https://lnkd.in/dyhB3ry

#cybersecurity #antimoneylaundering #amlcft #counteringthefinancingofterrorism #fatf #cfatf

Speaking virtually to the OSCE Counter-Terrorism Conference in Vienna, FATF President Marcus Pleyer emphasised how new digital technologies can potentially help speed up terrorist financing probes #FollowTheMoney

14/08/2020
www.cfatf-gafic.org

Public Statement on Sint Maarten approved by Round Robin on July 28th, 2020

The CFATF welcomes Sint Maarten’s considerable efforts on addressing the deficiencies relative to Core and Key Recommendations. Consequently, the CFATF withdraws its call for members to consider the risks arising from the deficiencies associated with Sint Maarten made on November 27th, 2019.

Sint Maarten remains in enhanced follow-up until it applies to exit the Third Round of Mutual Evaluations given that the progress it has made demonstrates that it satisfies the conditions for exit set out by the CFATF ###IX Plenary Meeting held in May 2014.

Click here to download the public statement: https://lnkd.in/dmw87uV

The Financial Action Task Force (FATF) held a webinar on "The Impact of COVID-19 on the Detection of Money Laundering an...
04/08/2020
The Impact of COVID-19 on the Detection of Money Laundering and Terrorist Financing

The Financial Action Task Force (FATF) held a webinar on "The Impact of COVID-19 on the Detection of Money Laundering and Terrorist Financing" on July 31, 2020.

After a brief update on risks, challenges and other relevant issues related to ML/TF detection reported by FATF and FSRB members and observers, experts representing national financial intelligence units, regulators and the private sector shared their views on topics including:

How has COVID-19 affected day-to-day financial activity and how are national authorities and the private sector adapting ML/TF detection capabilities in a rapidly evolving environment?

How have national authorities and the private sector dealt with challenges to ensure business continuity so that ML and TF activity continues to be detected?

What are some of the medium to long-term issues facing the anti-money laundering/counter terrorist financing (AML/CFT) community and what lessons can we learn from the impact of the pandemic?

View the webinar here: https://www.youtube.com/watch?v=FJO5EozUmNU#action=share

The FATF held a webinar on "COVID-19 and the Changing Money Laundering and Terrorist Financing Risk Landscape" on July 3...
04/08/2020
Covid-19 and the Changing Money Laundering and Terrorist Financing Risk Landscape

The FATF held a webinar on "COVID-19 and the Changing Money Laundering and Terrorist Financing Risk Landscape" on July 30, 2020.

After a brief update on risks reported by FATF and FSRB members and observers, representatives from Australia, Mexico, Interpol and Europol provided updates and different perspectives on the key money laundering (ML) and terrorist financing (TF) risks to be aware of. They discussed key issues including:

How has COVID-19 changed the criminal economy and what key threats and vulnerabilities are we seeing at the national, regional and international levels?

What medium to long-term risks do we see emerging from the COVID-19 crisis?

What are some good practices and strategies the public and private sectors can put in place to manage the changing risk environment?

View the webinar here: https://www.youtube.com/watch?v=mwh3r7-KrrM#action=share

The Financial Action Task Force (FATF) held a webinar on Monday 27 July 2020 to discuss the FATF’s recent report on Mone...
04/08/2020
FATF Webinar on Money Laundering and Illegal Wildlife Trade

The Financial Action Task Force (FATF) held a webinar on Monday 27 July 2020 to discuss the FATF’s recent report on Money Laundering and the Illegal Wildlife Trade (IWT).

The report can be found here:http://www.fatf-gafi.org/media/fatf/documents/Money-laundering-and-illegal-wildlife-trade.pdf

The objective of this webinar was to discuss the main money laundering trends linked to IWT, as well as practical examples of how governments, the private sector and civil society can tackle ML from IWT. The webinar also discussed next steps and commitments for action across government and non-government stakeholders.

This webinar was aimed at national and international AML/CFT and wildlife crime experts, as well as private sector and civil society representatives. The webinar included senior participation from the FATF, including the current FATF President and representatives from national governments, the United for Wildlife Financial Taskforce, the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), the United Nations Office for Drugs and Crime (UNODC), and civil society.

View the webinar here: https://www.youtube.com/watch?v=RBAUMugtukg

On 27 July 2020, the Financial Action Task Force (FATF), organised a Webinar on the topic of money laundering and the illegal wildlife trade. During this web...

Following the publication of the paper on COVID-19 related Money Laundering and Terrorist Financing Risks and Policy Res...
04/08/2020
FATF webinar on COVID-19 related money laundering and terrorist financing risks and policy responses

Following the publication of the paper on COVID-19 related Money Laundering and Terrorist Financing Risks and Policy Responses, the FATF held a webinar to summarise and higlight the findings and, respond to questions from participants.

View the webinar here: https://www.youtube.com/watch?v=Uf8n1WV_Ofo&feature=emb_title

The Financial Action Task Force (FATF) held a webinar to detail the findings of a new paper 'COVID-19-related Money Laundering and Terrorist Financing Risks ...

04/08/2020
www.fatf-gafi.org

The FATF issued a paper on COVID-19 related Money Laundering and Terrorist Financing Risks and Policy Responses. This paper identifies challenges and new money laundering and terrorist financing threats and vulnerabilities arising from the COVID-19 crisis.

The paper also highlights that policy responses that can help support the swift and effective implementation of measures to respond to threats and vulnerabilities emerging during the COVID-19 pandemic.

These measures include domestic coordination to assess the impact of COVID-19 on anti-money laundering (AML) countering the financing of terrorirsm (CFT) risks and systems, strengthened communication with the private sector and supporting electronic and digital payment options.

Download the Report here:http://www.fatf-gafi.org/media/fatf/documents/COVID-19-AML-CFT.pdf

Address

Nicholas Tower, 63-65 Independence Square
Port Of Spain

Opening Hours

Monday 08:00 - 16:00
Tuesday 08:00 - 16:00
Wednesday 08:00 - 16:00
Thursday 08:00 - 16:00
Friday 08:00 - 16:00

Telephone

18686239667

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