TURKS AND CAICOS ISLANDS: FATF PUBLISHED AML/CFT FOLLOW-UP REPORT

On 21 December, FATF published the third enhanced follow-up report on the Turks & Caicos Islands, previously published by FATF-style regional body, CFATF.  FATF reports that, overall, the Turks and Caicos has made significant progress in addressing the technical compliance deficiencies identified in their Mutual Evaluation Report.  For FATF Recommendations 8, 16, 22, 26, 34, only minor deficiencies remain and they are all re-rated from PC to Largely Compliant; and it has been re-rated Compliant on Recommendations 10, 14, 17, 18, 19, 23 and 40.  As a result, it now has 35 Recommendations rated Compliant/Largely Compliant, but will remain in enhanced follow-up based on effectiveness ratings (which are not addressed in technical updates.  The next enhanced follow-up report is due November 2023.

https://www.fatf-gafi.org/media/fatf/documents/reports/fur/CFATF-Turks-and-Caicos-islands.pdf

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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