Anguilla Stamps Out Money Laundering and Terrorist Financing

A Stronger International Standing for Anguilla

In a bid to reinforce its global reputation, the government of Anguilla has implemented stringent anti-money laundering (AML) laws and regulations in accordance with the Financial Action Task Force’s (FATF) recommendations. This move underscores the island’s commitment to combating financial crimes and ensuring a secure and transparent financial environment for all stakeholders.

A Robust Legislative Framework

Anguilla’s legislative framework, bolstered by the Proceeds of Crime Act (POCA) in 2009, has been instrumental in preventing and detecting money laundering activities. The Anti-Money Laundering and Terrorist Financing Regulations (AML/CFT Regulations) and the Anti-Money Laundering and Terrorist Financing Code complement this legislation, providing a comprehensive framework for combating financial crimes.

Key Components of Anguilla’s AML Framework

• Financial Service Providers: Captured under Schedule 2 of the AML/CFT Regulations, these institutions are required to adhere to stringent regulations and guidelines.
• Non-Profit Organisations: Also subject to the subsidiary legislation, these organisations must ensure transparency and accountability in their financial dealings.
• International Collaboration: Anguilla remains committed to working with regional and international bodies, such as the Caribbean Financial Action Task Force, to achieve common goals in combating money laundering and terrorist financing.

By implementing robust AML laws and regulations, Anguilla has strengthened its position against financial crimes. This commitment to transparency and accountability will continue to ensure a safe and secure financial environment for all stakeholders.