Special Ministerial Meeting III

May 2012 Plenary meeting in San Salvador, El SalvadorThree months after the meeting of senior officials at the May 2012 Plenary meeting in San Salvador, El Salvador, Ministers from the twenty nine member countries of the Caribbean Financial Action Task Force (CFATF) will convene for Special Ministerial Meeting III in Miami on Friday 24th August 2012.

Given the ongoing impact of the global financial and economic crisis on the small and developing countries of the Caribbean Basin Region which comprise the CFATF membership, Ministers will discuss within this context the annual budget, annual membership fees and the audited financial statements of the organisation, all of which are critical to sustaining regional efforts and strengthening regional capacity to combat the threats of trans national organised crime, money laundering and the financing of terrorism.

The CFATF is the first of eight FATF Style Regional Bodies that form the global Anti Money Laundering and Combating the Financing of Terrorism Network and is important to international efforts to protect the international financial system. With this in mind, CFATF Members through the CFATF Working Group on Financial Action Task Force (FATF) Issues (CFATF WGFI) actively participated in the process to revise the FATF 40 Recommendations which were promulgated by the FATF and which will be considered for formal endorsement by the CFATF at Special Ministerial III.