Barbados removed from FATF’s Grey List

Barbados has been removed from the Financial Action Task Force’s (FATF) List of Jurisdictions Under Increased Monitoring (also referred to as the FATF Grey List).

Attorney General Dale Marshall heralded this achievement, which reflects the consensus of the FATF that Barbados has successfully implemented its Action Plan.

This important milestone was reached today at the organisation’s first Plenary meeting for the year.

The Attorney General also congratulated the members of the local Anti-Money Laundering (AML) Network whose dedication and commitment over the last four years was responsible for the country’s success.

This network includes the Central Bank of Barbados, the International Business Unit, the Financial Services Commission, the Compliance Unit, Corporate Affairs and Intellectual Property Office, the Financial Intelligence Unit, the Financial Crimes Investigations Unit of The Barbados Police Service, the Office of the Director of Department of Public Prosecutions, and the Office of the Attorney General.

AG Marshall further stated that this important development should quell many of the concerns of our financial institutions, businesses, professionals and citizens, who can now look forward to an ease in doing business locally and internationally.

About The Author

admin

See author's posts