St. Kitts and Nevis: End of the CFATF Third Round Follow-Up Process & CFATF International Cooperation Review Group (CFATF ICRG) Monitoring

The CFATF held its XL Plenary in San Salvador, El Salvador during the week of November 23-28, 2014, during which time four (4) Member countries exited the Third Round Follow-Up Process, completing all their reporting requirements, while one (1) Member country exited the CFATF ICRG monitoring process.

JURISDICTIONS EXITING THE FOLLOW-UP PROCESS

The November 2014 Plenary recognised that St. Kitts and Nevis had made significant progress in addressing the deficiencies identified in their 2009 Mutual Evaluation Report and therefore could exit the follow-up process.

St. Kitts and Nevis has addressed the deficiencies noted in the Core and Key Recommendations rated PC/NC (R. 1, 3, 5, 13, 23, 26, 35, 40, SR. I, II, III and IV) to a level that is comparable to at least an LC.

St. Kitts and Nevis 9th Follow-Up Report, which was presented at the November 2014 Plenary contains a detailed description and analysis of the actions taken by St. Kitts and Nevis to rectify the deficiencies identified in respect of the Core and Key Recommendations rated PC or NC and other Recommendations, in the 2009 Mutual Evaluation Report.

St. Kitts and Nevis: End of the CFATF Third Round Follow-Up Process & CFATF International Cooperation Review Group (CFATF ICRG) Monitoring

The CFATF held its XXXIX Plenary in Miami, Florida during the week of May 25-29, 2014 during which time some Member countries were removed from the third round follow-up process and entered biennial updating; while other Member countries exited the CFATF ICRG monitoring process.

JURISDICTIONS THAT WERE UNDER CFATF ICRG REVIEW AND HAVE MADE SIGNIFICANT PROGRESS IN ADDRESSING THEIR AML/CFT DEFICIENCIES

St. Kitts and Nevis

The CFATF acknowledges the significant progress made by St. Kitts and Nevis in improving its AML/CFT regime and notes that St. Kitts and Nevis has established the legal and regulatory framework to meet its commitments in its agreed Action Plan regarding the strategic deficiencies that the CFATF had identified. St. Kitts and Nevis is therefore no longer subject to the CFATF ICRG monitoring process.

Prime Contact of Saint Kitts and Nevis

Financial Secretary
Ministry of Finance
Church Street  P.O. Box 186,  Basseterre
Saint Kitts and Nevis
1 869 467 1091, 1 869 465 1532

MER of Saint Kitts and Nevis