Fourth Round Mutual Evaluation Report of Aruba

The CFATF Plenary held virtually in June 2022 adopted the Mutual Evaluation Report of Aruba. This evaluation summarises the Anti-Money Laundering (AML) / Counter-Terrorist Financing (CFT)/ Counter-Proliferation Financing (CPF) measures in place in Aruba as at the date of the on-site visit from August 30, 2021 to September 10, 2021. The report analyses the level of compliance with the FATF 40 Recommendations, the level of effectiveness of Aruba’s AML/CFT system and provides recommendations on how the system could be strengthened.

 Click here for  complete report ->

CFATF LIV PLENARY OUTCOMES MAY-JUNE 2022 VIRTUAL PLENARY & WORKING GROUPS MEETING

Photo: Chairman of the CFATF, Mrs. Cheryl-Ann Lister, Acting Financial Secretary, Bermuda, pictured in the first row, photo 4 from the left and participants at the LIV Plenary and Working Groups meetings held virtually during the period May 17^th to June 3^rd, 2022.

Photo: Participants at the LIV Plenary and Working Groups meetings held virtually during the period May  17^th to June 3^rd, 2022.

Photo: Participants at the LIV Plenary and Working Groups meetings held virtually during the period May  17^th to June 3^rd, 2022.

Port-of-Spain, Trinidad and Tobago, (Virtually) May-June, 2022 – Chairman of the CFATF, Mrs. Cheryl-Ann Lister, Acting Financial Secretary, Bermuda chaired the CFATF LIV Plenary and Working Groups meetings held virtually during period May  17^th, 2022 to June 3^rd, 2022.

The main issues dealt with by this Plenary were:

1. Mutual Evaluations

Discussion of the Mutual Evaluation Reports (MER) of Grenada and Aruba: The CFATF LIV Plenary discussed the MERs of Grenada and Aruba which were prepared on the basis of the FATF 4^th Round Methodology, and which set out the level of effectiveness of the country’s AML/CFT system and their level of compliance with the FATF Recommendations. Plenary approved the MERs following discussions at both the CFATF Working Group on FATF Issues (WGFI) meeting and at Plenary. The completion of the post-Plenary Quality and Consistency (Q&C) process is pending.

2. CFATF International Co-operation Review Group (ICRG) Matters (May 26^th, 2022)

• Outcomes of the FATF ICRG February (virtual) 2022 Working Group Meetings
• Status Report on the FATF ICRG process
• Discussion of the Follow-up Reports (FURs) for the mutual evaluations of:
• Trinidad and Tobago (5^th Enhanced FUR)
• Bermuda (1^st Regular FUR)
• Update on the 4^th Round Follow-up Process

3. Other Working Group Meetings held virtually:

• CFATF Working Group on FATF Issues (WGFI) (May 17^th and 19^th, 2022)
• Donor’s Forum (May 20^th, 2022)
• CFATF Heads of FIU Forum (May 24^th, 2022)
• CFATF Risk Trends and Methods Group (CRTMG) (May 25^th, 2022)

4. Other Updates Received

• The Supervision Project, extended for an additional period of three years (June 2021 – May 2024), continues to provide support to Members, with an additional element of providing desk-based assistance to the CFATF’s Mutual Evaluation (MEVAL) Programme.

• The activities and achievements for the three-year period, June 2019 to May 2022 included a brief overview of the project, the activities and Members’ engagement. The Governments of Canada and the United Kingdom of Great Britain and Northern Ireland fully funded the Supervision Project, open to all CFATF Members, with the intended outcomes of achieving strong ratings in the Recommendations specific to IO.3 and its core issues.  

  Through the different tools developed:   

1. Eleven (11) Members and Thirty-three (33) Supervisors benefitted from technical assistance, policy support and reviews of their existing AML/CFT supervisory systems.  

2. A total of three hundred and three (303) persons from ten Members and 31 Supervisors participated in the Supervision Training Exercise, “Strengthening Supervisory Systems”, geared towards promoting a clear understanding of the requirements of IO.3.  

3. The Supervision Advisor delivered:  
   • A presentation on “Understanding Risk to Promote Inclusion” in collaboration with the World Bank’s Technical Assistance Programme offered to the Eastern Caribbean Central Bank Members at the first “AML/CFT Risk-Based Supervision Banking Sector Dialogue and Collaboration Workshop”. \
   • A Tech Talk to the CFATF Secretariat on IO.3.  

• Two surveys provided insights on how the COVID-19 pandemic (the pandemic) impacted AML/CFT supervisors in the region as well as their supervisory responses to the pandemic. The Supervision Advisor analysed the results and presented reports to all Members.
   
• During the reporting period (November 2021 to May 2022) the CFATF 11^th EDF Office undertook the following:

-1 Mutual Evaluation - The MEVAL Onsite for Suriname was executed on February 28^th - March 11^th, 2022.

-2 Pre-Assessment Trainings - 1 Virtual Live Streaming Pre-Assessment Training for Dominica was completed from 7^th -9^th December 2021 and 1 Pre-Assessment     (face-to-face) Training was delivered in Saint Vincent and the Grenadines during the period 11^th - 13^th April 2022.  

-1 Standards Training - 1 Virtual Live Streaming Standards Training for Dominica was completed during 12^th -14^th January 2022.

• The CFATF’s 11^th EDF application for a 14 month ‘No-Cost’ Extension was finalized on 12^th January 2022. An Addenda that adds 14 months to CFATF’s 11th EDF Grant Agreement was signed by the CFATF Executive Director in January 2022. The project now ends 2^nd September 2024.

5. CFATF Governance

• For the period December 2021 to December 2022 the Chairmanship of the CFATF is held by Bermuda represented by Cheryl-Ann Lister, Acting Financial Secretary, Ministry of Finance, Bermuda. The Deputy Chairmanship is held by the Cayman Islands represented by the Honourable Samuel Bulgin, Attorney General of the Cayman Islands. The position of Immediate Past Chair is held by The Bahamas, represented by the Honourable Ryan Pinder, Attorney General of The Bahamas which ensures the tripartite governance of the CFATF.

CFATF Secretariat
July 1, 2022

Fourth Round Mutual Evaluation Report of St. Kitts and Nevis

The CFATF Plenary held virtually in December 2021 adopted the Mutual Evaluation Report of St. Kitts and Nevis. This evaluation summarises the Anti-Money Laundering (AML) / Counter-Terrorist Financing (CFT) measures in place in St. Kitts and Nevis as at the date of the on-site visit March 15^th – 26^th, 2020. The report analyses the level of compliance with the FATF 40 Recommendations, the level of effectiveness of St. Kitts and Nevis’ AML/CFT system and provides recommendations on how the system could be strengthened.

Click here for complete report

CFATF LIII PLENARY OUTCOMES DECEMBER 2021 VIRTUAL PLENARY & WORKING GROUPS MEETING

Photo: Chairman of the CFATF, the Honourable Ryan Pinder, pictured in the third row, photo 5 from the left,
and participants at the LIII Plenary and Working Groups meetings held in virtually during the period November 18^th to December 3^rd, 2021.

Photo: Participants at the CFATF LIII Plenary and Working Groups meetings held virtually during the period November 18^th to December 3^rd, 2021.

Port-of-Spain, Trinidad and Tobago, (Virtually) December 2021 – Outgoing CFATF Chairman, the Honourable Ryan Pinder, Attorney General of The Bahamas chaired the CFATF LIII Plenary and Working Groups meetings held virtually during period November 18^th - December 3^rd, 2021. The Honourable Ryan Pinder presided and passed the baton to the Honourable Cheryl-Ann Lister, Acting Financial Secretary, Ministry of Finance, Bermuda, who will hold the position of CFATF Chairman for the period December 2021 to December 2022. The Deputy Chairmanship was passed to the Cayman Islands represented by the Honourable Samuel Bulgin, Attorney General of the Cayman Islands.

The main issues dealt with by this Plenary were:

1. Mutual Evaluations

Discussion of the Mutual Evaluation Report (MER) of St. Kitts and Nevis: The CFATF LIII Plenary discussed the MER of St. Kitts and Nevis which was prepared on the basis of the FATF 4^th Round Methodology, and which set out the level of effectiveness of the country’s AML/CFT system and their level of compliance with the FATF Recommendations. Plenary approved the MER following discussions at both the CFATF Working Group on FATF Issues (WGFI) meeting and at Plenary. The completion of the post-Plenary Quality and Consistency (Q&C) process is pending.

2. CFATF International Co-operation Review Group (ICRG) Matters (November 24^th and 26^th, 2021)

Discussion of the Follow-up Reports (FURs) for the mutual evaluations of:

• The Bahamas 4^th FUR for re-ratings.
• The Republic of Haiti 2^nd FUR for information only
• Jamaica 4^th FUR for information only
• Barbados 3^rd FUR for information only
• Turks and Caicos Islands 2^nd FUR for information only
• Lucia 1^st FUR for information only

3. Other Working Group Meetings held virtually:

• CFATF Working Group on FATF Issues (WGFI) (November 22nd to 23rd, 2021)
• CFATF Heads of FIU Forum (November 24^th, 2021)
• CFATF Risk Trends and Methods Group (CRTMG) (November 24^th, 2021)

4. Other Updates Received

• The Supervision Project, extended for an additional period of three years (June 2021 – May 2024), continues to provide support to Members, with an additional element of providing desk-based assistance to the CFATF’s Mutual Evaluation (MEVAL) Programme.
  
  
•  The 11th EDF funded two Mutual Evaluations between January and October 2021. The first was the hybrid Mutual Evaluation Mission for St Kitts and Nevis which took place from March 15th to 25th, 2021 and the second was the hybrid Mutual Evaluation Mission for Grenada which occurred from June 14th to 25th June 2021. One virtual Pre-Assessment Training for Suriname was conducted from June 28th to 30th 2021 (237 persons trained).
  
  
• The 11th EDF Project was granted a 14-month ‘No-Cost’ extension to the program’s implementation period.

5. CFATF Governance

• For the period December 2021 to December 2022 the Chairmanship of the CFATF is held by Bermuda represented by Cheryl-Ann Lister, Acting Financial Secretary, Ministry of Finance, Bermuda. The Deputy Chairmanship is now held by the Cayman Islands represented by the Honourable Samuel Bulgin, Attorney General of the Cayman Islands. The position of Immediate Past Chair is held by The Bahamas, represented bythe Honourable Ryan Pinder, Attorney General of The Bahamas which ensures the tripartite governance of the CFATF.

CFATF Secretariat
January 20, 2021