CFATF Issues Statement on Haiti’s AML/CFT Regulatory Requirements

The Caribbean Financial Action Task Force (CFATF) has published a statement regarding Haiti’s progress in implementing anti-money laundering and combating the financing of terrorism (AML/CFT) regulations.

Haiti’s Efforts to Address Strategic Deficiencies

Haiti was identified as having strategic deficiencies in its AML/CFT system and has been under observation since April 2015. In September 2016, Haiti amended its Law Sanctioning Money Laundering and Terrorist Financing and enacted a new law establishing the Central Financial Intelligence Unit (UCREF). The CFATF has encouraged Haiti to continue its reform process, including the passage of a legislative framework and addressing remaining deficiencies.

Progress in Other Countries

In contrast, Suriname was praised by the CFATF for making significant progress in improving its AML/CFT regime. The country has established the legal and regulatory framework needed to meet its commitments under its agreed Action Plan and has been cleared to exit the CFATF’s Intensive Follow-Up process.

Additionally, Guyana, which was previously subject to monitoring by the CFATF, has also made significant progress in improving its AML/CFT regime. The country has substantially completed all of its action plan items and has been removed from the CFATF’s ICRG process.

Importance of Compliance

The CFATF’s statement serves as a reminder to countries and the private sector to be aware of their obligations under international standards for AML/CFT and to take steps to ensure that their systems are fully compliant.