AML/CFT: ANTIGUA AND BARBUDA’S ENHANCED FOLLOW-UP REPORT AND TECHNICAL COMPLIANCE RE-RATING

On 22 November, FATF-style regional body CFATF released the 3rd enhanced follow-up report for Antigua & Barbuda.  The country saw its mutual evaluation report released in 2018.  CFATF the CFATF has re-rated the country in relation to FATF Recommendation 7 from Non-Compliant to Partially Compliant; Recommendations 22 and 40 from Partially Compliant to Largely Compliant; Recommendations 28 and 37 from Partially Compliant to Compliant; and Recommendation 2 from Largely Compliant to Compliant.  Therefore, Antigua and Barbuda is now Compliant with 11 Recommendations and Largely Compliant on 25 on FATF Recommendations.  As usual, the report does not address effectiveness ratings.  Antigua and Barbuda will remain in enhanced follow-up on the basis that it had a low or moderate level of effectiveness for 7 or more of the 11 effectiveness outcomes (aka “Immediate Outcomes” or IO)  and will continue to inform the CFATF of progress achieved on improving the implementation of its AML/CFT measures.

https://www.cfatf-gafic.org/documents/4th-rd-follow-up-reports/antigua-and-barbuda-2/17170-antigua-and-barbuda%E2%80%99s-3rd-enhanced-follow-up-report-and-technical-compliance-re-rating

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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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