‘DE-RISKING’ IN THE CARIBBEAN REGION – A CFATF PERSPECTIVE

A paper from FATF-style regional body for the Caribbean region dated 1 November looks at ‘de-risking’ (which is defined as the termination or restriction of business relationships with entire countries or classes of customers in order to avoid rather than manage the risks), saying that this remains a challenge for the Caribbean region.  It reports that, in May 2018, the CFATF Plenary approved a stocktaking exercise which was conducted amongst the CFATF 25 member states.  The paper highlights the results of that stock-taking exercise, carried out from June 2018 to April 2019 and the exercise sought to identify the negative impact of de-risking on the region.  It also summarises the current situation and recent activities and events to address the issue by the CFATF and the FATF Global Network.

https://www.cfatf-gafic.org/documents/resources/13667-de-risking-in-the-caribbean-region-a-cfatf-perspective

 

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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