FATF: BARBADOS AML/CFT EVALUATION SECOND FOLLOW-UP REPORT

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

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, 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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