Antigua and Barbuda Compliance Officers Forum Concludes with Call to Action Against Money Laundering and Terrorism Financing

Introduction

The Office of National Drug and Money Laundering Control Policy (ONDCP) in collaboration with Royal Bank of Canada (RBC) hosted the Antigua-Barbuda Compliance Officers Forum at the Halcyon Cove by Rex Resorts on November 23rd and 24th. The two-day event brought together compliance officers from various sectors, including banking, insurance, credit unions, money lenders, and remitters.

Key Highlights

• Prime Minister Gaston Browne delivered a feature address, emphasizing the importance of corresponding banking and de-risking.
• Senator Maureen Payne Hyman, on behalf of Attorney General Steadroy Benjamin, encouraged participants to apply responsible compliance in their roles.
• A total of 60 participants attended the forum, representing various sectors of the financial industry.
• The event featured presentations on subject matters relevant to compliance officers’ functions, including techniques for effective suspicious activity reporting and resolving compliance conflicts.

Call to Action

As Antigua and Barbuda prepares for its 4th Round Mutual Evaluation by the Caribbean Financial Action Task Force (CFATF), Director Croft emphasized the need for continued cooperation in this process. The forum concluded with a call to action against money laundering and terrorism financing, with participants expressing their appreciation for the event and proposing that the ONDCP increase public awareness of AML/CFT requirements.

Conclusion

The success of the forum demonstrates the importance of collaboration between regulatory bodies, financial institutions, and compliance officers in combating money laundering and terrorism financing. The ONDCP has pledged its commitment to addressing this issue and has promised to work towards increasing public awareness of AML/CFT requirements.