Financial Crime World

Here is the rewritten article in markdown format:

Turks and Caicos Islands Takes Significant Steps towards Compliant and Largely Compliant Ratings

The Turks and Caicos Islands (TCI) has made significant progress in achieving compliant and largely compliant ratings on 35 out of 40 of the Financial Action Task Force’s (FATF) anti-money laundering, counter-terrorist financing, and counter-proliferation financing global standards.

Recent Developments

The TCI has now achieved Compliant and Largely Compliant ratings following the 55th Caribbean Financial Action Task Force (CFATF) Plenary held in Grand Cayman, Cayman Islands. This achievement is a testament to the country’s commitment to combating money laundering, terrorist financing, and proliferation financing.

Signing of Memoranda of Understanding

The TCI has signed memoranda of understanding with the Republic of Haiti and the Cooperative Republic of Guyana aimed at enhancing cooperation between the respective countries in the sharing of financial intelligence relating to the combating of money laundering, terrorist financing, and proliferation financing. These efforts are related to the FATF recommendations on anti-money laundering (AML), Counter Terrorist Financing (CTF) and Counter Proliferation Financing (CPF).

Key Achievements

  • 35 out of 40 of the FATF’s global standards have been achieved
  • Memoranda of understanding signed with Haiti and Guyana to enhance cooperation in combating money laundering, terrorist financing, and proliferation financing

“It is essential that we develop systems for efficient and effective sharing of intelligence that fosters greater cooperation between our countries. This initiative aligns with the TCIG’s priorities aimed at Border Protection, National Security, Crime Prevention, and abatement.”

— Director of FIA

The TCI recognizes the importance of international cooperation in combating financial crimes and looks forward to continuing its efforts to achieve full compliance with the FATF recommendations.

[Insert photos from the article]

  • [Insert link to related story]
  • [Insert link to related story]