CFATF LII PLENARY OUTCOMES

MAY 2021

CFATF’s LII VIRTUAL PLENARY & WORKING GROUPS MEETING

 

Photo: The Honourable Carl Wilshire Bethel, Q.C. Attorney General and Minister of Legal Affairs of the Bahamas and Chairman of the CFATF for the period November 2020-November 2021 (first row, sixth photo from left), Executive Director of the CFATF, Ms Dawne Spicer, (third row, fourth photo from left) and other participants at the LII Plenary and Working Groups meetings held in virtually during the period 12th -27th May 2021.

 


Photo: Deputy Chairman of the CFATF for the period November 2020-November 2021, Mrs. Cheryl-Ann Lister, Acting Financial Secretary, Ministry of Finance of Bermuda (fifth row, first photo from left) and other participants at the LII Plenary and Working Groups meetings held in virtually during the period 12th -27th May 2021.

 


Photos: Participants at the CFATF LII Plenary and Working Groups meetings held virtually during the period 12th -27th May 2021.

 

Port-of-Spain, Trinidad and Tobago, (Virtually) May 2021 –CFATF Chairman, the Honourable Carl Wilshire Bethel, Q.C. Attorney General and Minister of Legal Affairs chaired the CFATF LII Plenary and Working Groups meetings held virtually during period 12th -27th May 2021. He was ably assisted by the Deputy Chairman of the CFATF for the period November 2020-November 2021, Mrs. Cheryl-Ann Lister, Acting Financial Secretary, Ministry of Finance of Bermuda.

The main issues dealt with by this Plenary were:

  1. Adoption of Amendments to the CFATF Procedures for the Fourth Round of AML/CFT Mutual Evaluations
  • Amendments to the CFATF Procedures for the Fourth Round of AML/CFT Mutual Evaluations (“The CFATF Procedures) were adopted as necessary to ensure alignment with the Universal Procedures and are intended to strengthen the mutual evaluation process with the aim of better-quality Mutual Evaluation Reports (MERs). Please see WGFI outcomes below for further information.
  1. CFATF International Co-operation Review Group (ICRG) Matters
  • Outcomes of the FATF ICRG February (virtual) 2021 Working Group Meeting:

a) Status Report on the FATF ICRG process: The Bahamas, Jamaica, Barbados, Cayman Islands, Haiti, Antigua and Barbuda, Turks and Caicos Islands, Saint Lucia.

  •  Fourth Round Mutual Evaluations

a) Follow-up reports (No TC re-ratings requests) (for information only)

(i) Trinidad and Tobago- 4th Enhanced Follow-up Report

b) Update on the 4th Round Follow-up Process (Other Jurisdictions)

  • Actions taken by the CFATF Members on the FATF Public Statements issued in October 2020, December 2020 and February 2021.

Other Working Group Meetings held virtually:

  • CFATF Heads of FIU Forum (May 12th, 2021)
  • CFATF Risk Trends and Methods Group (CRTMG) (May 17th 2021)
  • CFATF Working Group on FATF Issues (WGFI) (May 19th

3. Other Updates Received

  • Supervision Project funded by the Government of the United Kingdom of Great Britain and Northern Ireland (“the UK”) and the Government of Canada (“Canada”)
  • 11th European Development Fund Implementation of the Mutual Evaluation Programme Project
  • Update on the Assessor Mentorship Programme (AMP)
  • Updates from the Group of Co-operating and Supporting Nations (COSUNs) and Observer Organisations
  1. CFATF Governance

For the period November 2020/November 2021, the Chairmanship of the CFATF is held by The Bahamas represented by the Honourable Carl Wilshire Bethel, Q.C. Attorney General and Minister of Legal Affairs of The Bahamas. The Deputy Chairmanship is held by Bermuda represented by Mrs. Cheryl-Ann Lister, Acting Financial Secretary, Ministry of Finance of Bermuda. The position of Immediate Past Chair is held by Antigua and Barbuda, represented by Lt. Col. Edward Croft, Director of the Office of Drug and Money Laundering Control Policy, Antigua and Barbuda which ensures the tripartite governance of the CFATF.

 

 

CFATF Secretariat
July 7th, 2021