Caribbean Financial Action Task Force (CFATF)

The Pacific Island region have been impacted by de-risking. Consequently, the (CBR) Roadmap was developed as a multi-year plan to address this issue. In light of the shared challenges brought by de-risking, the CBR Roadmap can hold key lessons for the Caribbean region. Read more in the CFATF's article "Regional Strategies to De-risking: The Pacific Island Forum’s Approach" below. #derisking #PIF #CBR #CFATF

Why is international cooperation important for Recommendation2️⃣5️⃣ ? 🤔It can: ✅Facilitate efficient ML/TF investigations. ✅Enable access to accurate information. ✅Help to uncover complex cross-border ownership structures used for ML/TF. Learn more about international cooperation and Recommendation 25 in the CFATF's article on "Revisions to Recommendation 25, Part 4: International Cooperation" below ⬇️

📍Trusts and similar legal arrangements can be misused for illegal purposes, such as money laundering (ML), terrorist financing (TF), sanctions evasion, bribery and corruption, tax fraud, and other illegal activities. ✅Sources of basic and BO information are: 1️⃣Trustee or Person holding an Equivalent Position. 2️⃣Public Body or Authority.  3️⃣Other Competent Authorities that hold or obtain information on trusts, like tax authorities. 4️⃣Other agents or service providers to the trust. 🔍Learn more in the CFATF's article on "Revision to Recommendation 25, Part III: Sources and Mechanisms for Obtaining Beneficial Ownership (BO) Information by Competent Authorities" below 👇🏾

🎯The complex nature and different types of legal arrangements that can be created required a more robust beneficial ownership (BO) framework to ensure greater transparency. 🎯One of the main revisions to Recommendation 25 was the identification and verification of BO information. 🎯The definition of beneficial ownership was revised in the context of legal arrangements. 🎯Trustees of express trusts and persons who have an equivalent position in a similar legal arrangement are now required to hold adequate, accurate and up-to-date BO information regarding these arrangements. Read more about these changes in CFATF's article on "Revision to Recommendation 25, Part 2: Identification and Verification of Basic and Beneficial Ownership (BO) Information."

The CFATF, through its Law Enforcement Advisor, Mr. Pedro Harry had the privilege of participating in an Anti-Money Laundering/Combating the Financing of Terrorism/Countering Proliferation Financing (AML/CFT/CPF) sensitisation training for the Judiciary. This valuable session, hosted by the Eastern Caribbean Central Bank (ECCB) and the Regional Security System-Asset Recovery Unit (RSS-ARU), took place from July 28 to August 1, 2025, and was attended by Judges and Magistrates from the nine member countries of the Eastern Caribbean Supreme Court. The training benefited from the expertise of facilitators from various organizations, including the RSS-ARU, the Judiciary, the CFATF Secretariat, the Financial Intelligence Units (FIUs) of Saint Vincent and the Grenadines, Dominica, and Grenada, the Office of the Director of Public Prosecutions of Antigua and Barbuda, and the Royal Antigua and Barbuda Police Force. The presentations covered AML/CFT/CPF International Obligations for the Eastern Caribbean, money laundering investigations, prosecutions, convictions, asset recovery, and terrorist financing. The judiciary gained practical insights into the content and requirements of the various Proceeds of Crime legislation across the Eastern Caribbean Supreme Court Member States and engaged in a practical scenario. The CFATF presentation focused on, inter alia, the importance of robust structural elements, such as an efficient and independent judiciary and the rule of law, in achieving globally acceptable levels of effectiveness. Additionally, the presentation addressed the 5th Round Mutual Evaluation cycle, amendments to the FATF Methodology, and the pivotal role of the judiciary in demonstrating effectiveness concerning International Cooperation (IO2), prioritization of ML and TF cases, implementation of effective, proportionate, and dissuasive sanctions (IO7 and 9), asset recovery (IO8), and the implementation of Targeted Financial Sanctions (IO10 and 11). The Secretariat also highlighted the performance of Eastern Caribbean Supreme Court members regarding IO.7 and IO.8, outlining strengths and weaknesses identified in their Mutual Evaluation Reports. The sessions were interactive, fostering a robust discussion on, inter alia, the suspension of transactions/withholding consent and the requirement to freeze and seize criminal property and property of corresponding value without a court order which are part of the new requirements that focused on asset recovery, and the constitutionality of these measures. The CFATF values its partnership with the ECCB and the RSS-ARU, recognizing them as strategic allies in our shared commitment to ensuring that our members implement the FATF Recommendations. These two regional organizations individually  represent twenty-four percent of the CFATF Members. We look forward to continued collaboration with both organizations, as well as with other regional and international bodies, in our ongoing efforts.

Grenada: Third Enhanced Follow-Up Report and Technical Compliance Re-rating Port of Spain, Trinidad and Tobago, August 7, 2025 – Grenada has undergone an enhanced follow-up process following the adoption of its Mutual Evaluation Report. The report assessed the effectiveness of Grenada’s anti-money laundering and counter-terrorist financing (AML/CFT) measures and the country's compliance with the FATF Recommendations.   In conformity with the CFATF Procedures for the Fourth Round of AML/CFT Mutual Evaluations, Grenada has reported to the CFATF regarding the progress it has made to strengthen its AML/CFT framework, and the 3rd Follow-Up Report of Grenada evaluates the country's efforts to address the technical compliance deficiencies identified in the Mutual Evaluation. According to the report, Grenada has made considerable strides in its fight against ML and TF since its 2022 Mutual Evaluation Report. As a result, the Caribbean Financial Action Task Force has re-rated the country on four out of the 40 Recommendations:   Recommendation 1: National cooperation and coordination from Partially Compliant to Largely Compliant   Recommendation 8: Targeted financial sanctions related to terrorism & terrorist financing from Partially Compliant to Largely Compliant.   Recommendation 31: Customer due diligence from Partially Compliant to Largely Compliant   Recommendation 32: Transparency and beneficial ownership of legal arrangements from Partially Compliant to Largely Compliant   Grenada is presently rated as Compliant or Largely Compliant with 31 out of the 40 FATF Recommendations.   Click the link https://lnkd.in/eaGyBbHv gain access to the FUR.  

St. Vincent and the Grenadines: First Enhanced Follow-Up Report (FUR) and Technical Compliance Re-rating   Port of Spain, Trinidad and Tobago, August 6th, 2025 – St. Vincent and the Grenadines has undergone an enhanced follow-up process following the adoption of its Mutual Evaluation Report. The report assessed the effectiveness of St. Vincent and the Grenadines’ anti-money laundering and counter-terrorist financing (AML/CFT) measures and the country's compliance with the FATF Recommendations. In conformity with the CFATF Procedures for the Fourth Round of AML/CFT Mutual Evaluations, St. Vincent and the Grenadines has reported to the CFATF regarding the progress it has made to strengthen its AML/CFT framework and the First Follow-Up Report of St. Vincent and the Grenadines evaluates the country's efforts to address the technical compliance deficiencies identified in the Mutual Evaluation. According to the report, St. Vincent and the Grenadines has made strides in its fight against ML and TF since its 2023 Mutual Evaluation Report. As a result, the Caribbean Financial Action Task Force has re-rated the country on 3 out of the 40 Recommendations: ◾️Recommendation 5: Terrorist Financing Offence from Partially Compliant to Compliant ◾️Recommendations 37 (Mutual Legal Assistance) and 39 (Extradition) were updated to reflect the changes made in respect of the criminalisation of TF in Recommendation 5 and remained rated as Partially Compliant. St. Vincent and the Grenadines is presently rated as Compliant or Largely Compliant with 31 out of the 40 FATF Recommendations. Click the link https://lnkd.in/e4WpGiZt to gain access to the FUR.

We are pleased to announce that the Mutual Evaluation Report of Curaçao and the Mutual Evaluation Report of Sint Maarten were published on July 16th, 2025. Both Reports were adopted at the CFATF Plenary held in Port of Spain, Trinidad in May 2025. These evaluations summarise the AML/CFT/CPF measures in place in Curaçao as at the date of the on-site visit from June 17th to 28th, 2024, and in Sint Maarten as at the date of the on-site visit from September 16th to 30th, 2024. The Reports analyse the level of compliance with the FATF 40 Recommendations, the level of effectiveness of Curaçao’s and Sint Maarten’s AML/CFT systems and provide recommendations on how their systems could be strengthened. These are the final two Reports, marking the conclusion of the CFATF’s Fourth Round of Mutual Evaluations. The CFATF is scheduled to begin the Fifth Round in March 2026. Please see the links below for the Reports. Mutual Evaluation Report of Curaçao: t.ly/YVzkB Mutual Evaluation Report of Sint Maarten: t.ly/AhW36 #cfatf #mutualevaluations #curacao #sintmaarten

CFATF Conducts Pre- Assessment Training of Jamaica   The CFATF conducted pre-assessment training with representatives from Jamaica’s Public and Private Sector officials, over the period June 18-20, 2025.  This training, funded by the 11th European Development Fund, was designed to prepare the Jamaican authorities and private sector stakeholders for the country’s upcoming 5th Round Mutual Evaluation. Mr. Wendell Lucas, Deputy Executive Director, Mr. Pedro Harry, Law Enforcement Advisor and Ms. Nalita Seenath, Junior Financial Advisor of the CFATF Secretariat were the facilitators for the training.  Opening remarks for the training was delivered by Ms. Maureene Simms, Jamaica’s Point of Contact. The presentations focused on, inter alia, risk and context and their importance to the mutual evaluation process, an overview of the mutual evaluation process, the assessment of technical compliance including Recommendations Under Review (RURs), assessment of effectiveness, and the requirements for FIs, VASPs and NPOs.  Participants also engaged mock interview sessions focusing on IOs.1 and 3, providing practical insight into the evaluation process. Additionally, both sectors were advised of the benefits and importance of having in place an effective cooperation and coordination mechanism to ensure successfully navigation and outcomes in the 5th Round Mutual Evaluation. The CFATF continues to provide important technical support and assistance to its members jurisdictions as they prepare for the 5th Round of Mutual Evaluation.

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