On 17 February, FATF published the second follow-up report on Barbados technical compliance (not effectiveness) since its mutual evaluation report in 2018, following which it was placed in enhanced follow-up. It has been re-rated on 13 FATF Recommendations, but this includes being downgraded on 2 – FATF Recommendation 15 (new technologies) and 21 (tipping-off and confidentiality), which are now “Partial Compliant”. Barbados will continue to report back to the regional CFATF on its progress to strengthen its implementation of AML/CFT measures. Barbados will also remain in enhanced follow-up on the basis that it has a low or moderate level of effectiveness for 7 or more of the 11 effectiveness outcomes (11 in total).
Click to access CFATF-2nd-Follow-Up-Report-Barbados-2021.pdf
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