Anguilla Takes a Strong Stance Against Money Laundering

Introduction

The government of Anguilla has reaffirmed its commitment to preventing and detecting money laundering and terrorist financing. The island nation is dedicated to adhering to international standards set by the Financial Action Task Force (FATF) recommendations.

International Obligations and Legislative Framework

To meet its international obligations, Anguilla has established a robust legislative framework against money laundering and the financing of terrorism. This framework was significantly strengthened in 2009 with the enactment of the Proceeds of Crime Act (POCA). The POCA is supported by two key regulations:

• Anti-Money Laundering and Terrorist Financing Regulations (AML/CFT Regulations): These regulations form a crucial part of Anguilla’s anti-money laundering efforts.
• Anti-Money Laundering and Terrorist Financing Code: This code provides guidelines for financial service providers and non-profit organizations operating within Anguilla.

Subsidiary Legislation

The subsidiary legislation under POCA, detailed in Schedule 2 of the AML/CFT Regulations, encompasses all financial service providers and non-profit organizations operating within Anguilla.