After being on the “brink” of being blacklisted by intergovernmental body the Financial Action Task Force (FATF), Trinidad and Tobago has now been removed from the dark- grey list and will no longer be directly monitored by the organisation, Prime Minister Kamla Persad-Bissessar has announced.
She was speaking yesterday during the sitting of the Lower House at Tower D, International Waterfront Centre, Port of Spain. She noted in February 2010, FATF publicly identified Trinidad and Tobago as having strategic anti-money laundering combating financing of terrorism (AMLCFT) deficiencies and was rated “partially compliant or non-compliant” with 15 of the 16 key and core regulations of the FATF.
“Yesterday at the FATF plenary in Paris … the FATF agreed to move Trinidad from the list of countries with strategic AMLCFT deficiencies,” she reported.
She noted the FATF welcomed this country’s “significant progress” in improving its AMLCFT regime and “notes that Trinidad and Tobago has established the legal and regulatory framework to meet its commitments in its action plan regarding the strategic deficiencies that the FATF had identified in February 2010″.
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