Title: Anguilla Cracks Down on Financial Crime: Compliance with FATF Recommendations and POCA

Anguilla’s Fight Against Financial Crime

Anguilla, a beautiful Caribbean island, is making significant strides in the fight against financial crime by adhering to international standards set by the Financial Action Task Force (FATF). The FATF Recommendations cover the prevention and detection of money laundering and terrorist financing.

International Commitment and Comprehensive Legislative Framework

The commitment to international obligations led Anguilla to institute a comprehensive anti-money laundering and combating the financing of terrorism (AML/CFT) legislative framework. This framework was bolstered in 2009 with the passing of the Proceeds of Crime Act (POCA).

POCA and Related Regulations

POCA, along with the Anti-Money Laundering and Terrorist Financing Regulations and Anti-Money Laundering and Terrorist Financing Code, empowers Anguilla in its mission to guard against financial crimes.

• POCA was designed to:
  • Provide for the seizure, forfeiture, and confiscation of proceeds of crime.
  • Establish offenses related to the acquisition, possession, or disposal of proceeds of crime.
  • Enact measures for mutual legal assistance and extradition in relation to criminal or proceeds of crime matters.

Coverage under POCA and AML/CFT Regulations

Schedule 2 of the Anti-Money Laundering and Terrorist Financing Regulations extends to cover all financial service providers and non-profit organizations, under the provisions of POCA.

Continued Vigilance

Anguilla remains steadfast in its mission to provide a safe and secure environment for its people and businesses. In its fight against financial crime, Anguilla leaves no stone unturned.

For more details on Anguilla’s efforts and the Caribbean Financial Action Task Force, visit this link.