Headline: Anguilla’s Crackdown on Money Laundering and Terrorist Financing: Adhering to International Standards
Anguilla, famous for its beautiful beaches and attractive tax incentives, is taking definitive steps toward combating financial crimes, such as money laundering and terrorist financing. The island is fully devoted to complying with the standards set by the Financial Action Task Force (FATF).
Anguilla’s FATF Compliance
Anguilla’s commitment to adhering to FATF Recommendations intensified with the enactment of the Proceeds of Crime Act (POCA) in 2009. POCA, combined with the Anti-Money Laundering and Terrorist Financing Regulations (AML/CFT Regulations) and the Anti-Money Laundering and Terrorist Financing Code, forms a crucial component of Angel’s legislative countermeasures against financial crimes.
POCA, AML/CFT Regulations, and Code
With the implementation of POCA, Anguilla’s legislative influence extended to cover all financial service providers and non-profit organizations. The comprehensive list of subsidiary legislation under POCA is detailed in Schedule 2 of the AML/CFT Regulations.
Strengthening Enforcement Capabilities
As Anguilla fortifies its enforcement capabilities against financial crimes, its residents and visitors can take pride in the island’s commitment to:
- International cooperation
- Transparency
- Adherence to best financial practices
Useful Links
For further information, please explore the following resources: