Financial Crime World

Anguilla Cracks Down on Money Laundering and Terrorist Financing with Enhanced Legislation

Anguilla, the pearl of the Caribbean, reaffirms its commitment to combating money laundering and terrorist financing by adhering to international standards set forth by the Financial Action Task Force (FATF).

International Obligations and the FATF Recommendations

Anguilla, like many countries, follows the FATF Recommendations, a set of guidelines for preventing and detecting money laundering and terrorist financing. These recommendations help countries establish a regulatory framework to tackle financial crimes.

Anguilla’s Anti-Money Laundering and Counter-Terrorist Financing Regime

Following international obligations, Anguilla fortified its legislative framework against financial crimes with the following measures:

  1. Proceeds of Crime Act (POCA): Enacted in 2009, POCA is the primary legislation addressing money laundering and terrorist financing in Anguilla.
  2. Anti-Money Laundering and Terrorist Financing Regulations (AML/CFT Regulations): These regulations strengthen POCA by providing detailed provisions for the implementation and enforcement of AML/CFT measures.
  3. Anti-Money Laundering and Terrorist Financing Code: This code sets out best practices for Anguillian authorities and financial institutions to follow in order to effectively implement and enforce AML/CFT measures.

List of Subsidiary Legislation under POCA

Schedule 2 of the AML/CFT Regulations lists various subsidiary legislations that apply to financial service providers and non-profit organizations in Anguilla, ensuring a comprehensive approach to tackling financial crimes.

For further information regarding Anguilla’s AML/CFT efforts and related matters in the Caribbean region, please visit the Caribbean Financial Action Task Force (CFATF) website.