Compliance Training Crucial for Financial Professionals in Antigua and Barbuda
The Office of National Drug and Money Laundering Control Policy (ONDCP) plays a crucial role in combating illegal narcotics, money laundering, and terrorism financing in Antigua and Barbuda. As the country’s lead law enforcement agency, the ONDCP is responsible for enforcing various laws and regulations related to these issues.
Mission and Vision
With a vision to become the Caribbean’s lead law enforcement agency in combating illegal narcotics, money laundering, and terrorism financing, the ONDCP is committed to eradicating transnational drug trafficking, money laundering, and the financing of terrorism. To achieve this goal, the organization relies on its highly trained staff who undergo continuous assessment and structured training programs.
Key Responsibilities
- Eradicate transnational drug trafficking
- Combat money laundering and terrorist financing activities
- Enforce laws and regulations related to these issues
Staff and Partnerships
The ONDCP’s personnel are drawn from Antigua and Barbuda and the region, working closely with national stakeholders, regional partners, and overseas agencies to share intelligence and mount combined operations. The agency has developed strong relationships with entities such as:
- Antigua and Barbuda Customs Department
- Royal Police Force of Antigua and Barbuda
- Eastern Caribbean Central Bank (ECCB)
- Antigua and Barbuda Defence Force Coast Guard
Core Values
The ONDCP’s staff are guided by values of:
- Integrity
- Objectivity
- Accountability
- Professionalism
- Loyalty
Organizational Structure
The ONDCP comprises several units, including:
- Administration Department
- Financial Intelligence Unit
- Investigations Department
- Financial Compliance Unit
- Drug Intelligence Unit
- Tactical and Surveillance Team
- Legal Department
- Anti-Drug Strategy Unit
Operational Structure
The ONDCP’s operational structure is built on a strong legal foundation, with three main pillars:
Pillars
- Financial Intelligence/Financial Investigations: Conducting financial investigations to detect and prevent money laundering and terrorist financing activities.
- Supervisory Authority/AML CFT Compliance: Ensuring compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.
- Counter Narcotics Operations: Mounting operations to combat illegal narcotics trafficking.
Importance of Confidentiality
To ensure the confidentiality of sensitive information, all employees undergo thorough vetting and receive ongoing training on their responsibilities to protect such information. Improper disclosure of information can result in severe penalties, including imprisonment or fines.
Ongoing Training
The ONDCP is committed to providing ongoing training programs to ensure that financial institutions and professionals are equipped to detect and prevent money laundering and terrorist financing activities.
In light of the importance of compliance training for financial professionals in Antigua and Barbuda, the ONDCP recognizes the need for continuous education and awareness on AML/CFT regulations. The organization is dedicated to providing regular training sessions to ensure that financial institutions and professionals are equipped to effectively detect and prevent money laundering and terrorist financing activities.