Government Information Agency
GEORGETOWN (GINA) — CARICOM Central Bank Governors agreed that strong legislative and effective compliance frameworks are fundamental to the continued functioning of regional financial sectors in accordance with acceptable international standards.
These are reflected in the 40 + 9 Recommendations of the Financial Action Task Force on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).
CARICOM Central Bank Governors, therefore, urge all CARICOM countries to ensure compliance with AML/CFT requirements and, where necessary, take prompt action to implement the recommendations of the CFATF, inclusive of legislative amendments, to avoid blacklisting. Failure to do so will have far-reaching implications for each country, adverse spill-over effects to other Caribbean countries, and will result in a prolonged loss of international confidence.