ST. GEORGE’S, Grenada, CMC – Three Caribbean Neighborhood (CARICOM) international locations are included in a Monetary Motion Job Pressure (FATF) advisory because the worldwide standard-setting physique for anti-money laundering and combating the financing of terrorism (AML/CFT) seeks to encourage international locations to grow to be extra compliant.
A press release issued by the Anti-Cash Laundering and Combating Terrorism Financing Fee right here stated that Barbados, Jamaica, and Haiti have been categorised as jurisdictions” beneath elevated monitoring and are actively working with the FATF of their regimes to counter cash laundering, terrorist financing, and proliferation financing.
“The FAFT doesn’t name for the applying of enhanced due diligence measures to be utilized to those jurisdictions however requires the applying of a risk-based method,” the assertion stated.
Other than the three CARICOM international locations, the opposite Caribbean island listed is the Cayman Islands.
The worldwide policy-making and standard-setting physique is devoted to combating cash laundering and terrorist financing.
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