The Caribbean Financial Action Task Force (CFATF) is a Financial Action Task Force (FATF) Styled Regional Body (FSRB) with a membership of twenty-five (25) Caribbean and South American States, Saint Lucia being one such member. This body requires that member States implement common countermeasures to address cases of money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction by implementing legislation in accordance with the revised 40 FATF Recommendations and 11 Immediate Outcomes.
During 2019, Saint Lucia is slated to have its 4th Round Mutual Evaluation, which will examine the country’s compliance with the Forty Recommendations through its legislative framework and level of effectiveness. From September 16-27, 2019 Saint Lucia shall have its on-site visit by the CFATF assessors following which they produce a report which shows Saint Lucia’s rating for each recommendation.
Housed at the Attorney General’s Chambers is the Anti-Money Laundering (AML) Unit which handles CFATF related matters. This unit is comprised of the National Coordinator, Mrs. Natalie Jervis and the Administrative Assistant, Mr. Kenton Alexander who through teamwork have continuously excelled at conducting preparatory work for the 4th Round Mutual Evaluation process.
Inter Alia, the AML Unit carries out the administrative functions of the National Anti-Money Laundering Oversight Committee (NAMLOC). In 2018 the NAMLOC conducted three (3) workshops, convened caucus meetings with key agencies island wide, aired an infomercial, published weekly articles in the local newspaper and developed two brochures.
A National Risk Assessment (NRA) Sensitization workshop was held from July 11 – 12, 2018 which saw the participation of both public and private sector stakeholders. This workshop was convened to introduce stakeholders to the topics of money laundering (ML), terrorist financing (TF), proliferation financing (PF) and the Mutual Evaluation process. This initiative also facilitated the appointment of six (6) teams to analyze the different sectors for the development of Saint Lucia’s National Risk Assessment Report which examines the country’s level of risk and vulnerability to cases of ML /TF/PF.
The first World Bank Workshop was held from July 24 – 26, 2018. Participants from the six (6) NRA teams were the participants at this workshop. The “World Bank Tool” was introduced to them by the World Bank Experts. This tool is currently being used for generating results for the NRA Report.
The second World Bank Workshop was convened from November 12 – 14, 2018. This proved to be a more interactive session, with the World Bank experts reviewing and examining the data presented by each team and providing feedback and recommendations for improvement.
After the conclusion of the first two workshops, the AML Unit in collaboration with the NAMLOC conducted over 20 caucus meetings. These were held with agencies and groups in order to properly inform them of the mutual evaluation process and educate them on the national implications and impacts of ML /TF/PF.
Since public education is also a key aspect of this process, an infomercial on the topics of ML/TF/PF is being aired on NTN. A weekly newspaper article is published in the Saturday Star, and distribution of brochures to key organisations and governmental departments will begin soon.
In early 2019, the Attorney General’s Chambers in collaboration with the Caribbean Financial Action Task Force (CFATF) and coordinated through the NAMLOC held a Pre-Assessment Training from January 28th – 30th.This saw the participation of Heads of Departments and senior level management being educated on the mutual evaluation process and the expectations from entities.
There is still much work to be done in preparation for the 4th Round Mutual Evaluation. However, the Anti-Money Laundering Unit continues its preparations, as a unit and as a part of the Attorney General’s Chambers, we continue to strive for excellence in order to place our country in the best position.
2nd Floor Francis Compton Building,
Waterfront,
Castries, Saint Lucia