The Turks & Caicos Weekly News reported on 23rd July that the first national AML strategy has been completed.  The National Anti-Money Laundering and Combating the Financing of Terrorist 2018-2019 Strategy will seek to improve the AML regime and ensure it meets FATF standards and is a 2-year framework document which will be used by private and public sector stakeholders to implement effective measures across the board to combat risks to the local financial sector.  The Caribbean Financial Action Task Force (CFATF) will assess the country’s AML legislative and regulatory framework in September.  The country is said to have been subject to scrutiny under the CFATF’s International Country Risk Guide (ICRG) review for years and has recently submitted a 13th follow-up report on its efforts to combat money laundering.  It is said to no longer subject to the ICRG monitoring process.


Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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