Antigua and Barbuda Hosts Compliance Training for Financial Professionals Amidst Fight Against Money Laundering and Terrorism Financing

Strengthening Collective Efforts Against Financial Crimes

The Caribbean Financial Action Task Force (CFATF) recently concluded its Joint FATF/CFATF Assessors Training at the Royalton Hotel in Antigua and Barbuda. The five-day training program, held from July 10th to 14th, brought together nearly fifty participants from various countries across the Caribbean, as well as international experts from the United Kingdom, India, Montenegro, the United Arab Emirates, South Africa, and Mexico.

Importance of Assessors Training

The training was officially opened by Hector Sevilla, CFATF’s Deputy Executive Director, and Kevin Vandergrift, Head of the FATF Training Unit. Both emphasized the importance of assessors training in enhancing regional cooperation and combating financial crimes. The Joint FAFT/CFATF Assessors Training was made possible through the support of the 11th European Development Fund (EDF) under the Project “Implementation of the Mutual Evaluation Programme”, aimed at bolstering capacity during the region’s Fourth Round of Mutual Evaluations.

Topics Covered

Over the course of the training, trainers from the FATF and CFATF Secretariats covered a range of topics, including:

• The mutual evaluation process
• Assessing technical compliance with the FATF Standards
• Effectiveness of national anti-money laundering and counter-terrorism financing systems
• How to discuss and adopt mutual evaluation reports

Throughout the program, participants shared their experiences and insights, as well as developed the skills necessary to successfully assess national AML/CTF systems.

Conclusion

The successful completion of this training is a significant step forward in the region’s efforts to combat financial crimes and ensure compliance with global standards.