Update from FATF and CFATF on Anti Money Laundering / Counter Financing Terrorism
Overview The Financial Action Task Force (FATF) and the FATF-style regional body, the Caribbean Financial Action Task Force (CFATF) have issued public statements advising that financial institutions and non-financial businesses give special attention to business relationships and transactions from jurisdictions which do not or do not adequately comply with the FATF’s recommendations/standards on Anti Money […]
By Business Barbados
December 4, 2013
Overview
The Financial Action Task Force (FATF) and the FATF-style regional body, the Caribbean Financial Action Task Force (CFATF) have issued public statements advising that financial institutions and non-financial businesses give special attention to business relationships and transactions from jurisdictions which do not or do not adequately comply with the FATF’s recommendations/standards on Anti Money Laundering (AML) or Counter Financing of Terrorism (CFT). The designated non-financial businesses and profession to which this applies include Attorneys-at-Law, Accountants, Real estate agencies, Dealers in precious metals and stones, Trust and corporate services and gaming institutions. Additional due diligence of persons from or in locations with AML/CFT deficiencies listed in the letter below may be required. The letter below was sent by the Financial Intelligence Unit (FIU) of Barbados.
Business Barbados
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