Anguilla Takes Step Forward in Fight Against Money Laundering and Terrorism Financing
Strengthening AML/CFT Regime through Training Conference
In May 2015, Anguilla hosted an intensive training conference for financial service providers aimed at strengthening its anti-money laundering and combating the financing of terrorism (AML/CFT) regime. The event, titled “AML/CFT Compliance vs Complacency,” brought together around eighty participants from the financial sector to discuss the implementation of FATF standards in the territory.
Expert Facilitation
The conference was facilitated by Ana Folgar and Jefferson Clarke of the Caribbean Financial Action Task Force (CFATF). They presented a range of topics, including:
- Reliance on third parties
- Customer due diligence
- Ongoing due diligence
- Risk assessments
Government Support
H.E Governor Christina Scott and Comptroller of Inland Revenue Perin Bradley addressed the conference, reiterating the Government of Anguilla’s commitment to meeting international financial standards.
Crucial Timing
The conference comes at a crucial time for Anguilla, which is preparing for its fourth round of Mutual Evaluations by CFATF. The territory recently completed its third round of evaluations and is keen to demonstrate the effectiveness of its AML/CFT practices.
Equipping Financial Service Providers
The training event was designed to equip financial service providers with the skills and knowledge necessary to comply with the FATF standards and combat money laundering and terrorist financing.
International Recognition
Anguilla’s commitment to international best practice in AML/CFT has been welcomed by CFATF, which praised the territory’s efforts to strengthen its financial regulatory framework. The event marked an important step forward for Anguilla in its fight against money laundering and terrorism financing, demonstrating the territory’s commitment to maintaining a robust and effective anti-money laundering regime.
Conclusion
The conference is a significant milestone in Anguilla’s journey towards strengthening its AML/CFT regime. With CFATF’s support, Anguilla is well on its way to meeting international standards and combating money laundering and terrorist financing effectively.