Financial Crime World

Anguilla Cracks Down on Money Laundering and Terrorist Financing with New Legislative Framework

Anguilla, known as the “Pearl of the Caribbean,” is making a significant impact in the global financial community with its dedication to combating money laundering and terrorist financing. The island nation is committed to complying with international standards set by the Financial Action Task Force (FATF).

Anguilla’s International Obligations

Anguilla’s efforts to comply with the FATF Recommendations, which are the benchmark for preventing and detecting money laundering and terrorist financing, include:

  • Customer due diligence
  • Record-keeping
  • Investigation and seizure powers

Anguilla’s Legislative Framework

To meet these international obligations, Anguilla has strengthened its legislative framework since 2009 with the following measures:

Proceeds of Crime Act (POCA)

  • POCA provides the legal backbone for Anguilla’s fight against financial crimes.
  • It covers all financial service providers and non-profit organizations operating within Anguilla’s borders.

Anti-Money Laundering and Terrorist Financing Regulations (AML/CFT Regulations)

  • The AML/CFT Regulations provide detailed provisions and guidance on the implementation of the Proceeds of Crime Act.

Anti-Money Laundering and Terrorist Financing Code

  • This code supplements the AML/CFT Regulations and POCA to ensure comprehensive coverage of all financial transactions happening within Anguilla.

Schedule 2 of the AML/CFT Regulations

Schedule 2 of the AML/CFT Regulations lists the various subsidiary legislation and regulations under POCA. These measures ensure the coverage of all financial transactions within Anguilla.

A Responsible Financial Hub

Anguilla’s proactive stance against money laundering and terrorist financing continues to put it on the map as a responsible financial hub, committed to upholding the highest standards of transparency and accountability in the Caribbean region.

For more information about Anguilla’s commitment to combating money laundering and terrorist financing, please visit the Caribbean Financial Action Task Force (CFATF) website.