CARIBBEAN FINANCIAL ACTION TASK FORCE (CFATF) PUBLIC STATEMENT ON ST. MAARTEN

On 28th November, the Daily Observer in St Maarten reported that the FATF-style regional body CFATF has issued a public statement noting St Maarten’s failure to comply with FATF standards. However, no consequences were imposed against the country just yet, according to Justice Minister Egbert Doran.  If the island does not approve the Penal Procedures Code and correct other deficiencies in its AML/CFT regulations it faces consequences.  The article says that, in the last 6 years, a total of 11 major laws were introduced to strengthen St. Maarten’s compliance framework.

https://www.thedailyherald.sx/islands/92843-cfatf-issues-statement-against-st-maarten-no-consequences-yet

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

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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