AG commits to combating money laundering at Caribbean task force meetings

Attorney General Reginald Armour, SC, discussed Trinidad and Tobago's anti-money laundering measures at the 58th Caribbean Financial Action Task Force (CFATF) Plenary and Working Group Meetings, which brought together Caribbean and Latin American leaders to discuss and implement measures to fight money laundering, terrorist financing and the proliferation of weapons of mass destruction.

A release sent on June 8 said the meeting was held in PoS from June 2-7, and matters addressed included changes to international standards and technical discussions on the 4th Round Mutual Evaluation Reports of Anguilla and Guyana.

The biannual CFATF Plenary Meetings provide a forum for all 24 CFATF member states and co-operating and supporting nations to discuss operational issues affecting them.

Other participants included the CFATF secretariat, led by director Dawne Spicer, and various attorney generals and government ministers from numerous CFATF member countries.

Representatives from Antigua and Barbuda, Anguilla, Aruba, Barbados, Belize, Bermuda, the Cayman Islands, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, the Turks and Caicos Islands, Venezuela, and the Virgin Islands were in attendance.

Armour was supported by stakeholders responsible for the implementation of TT's anti-money laundering, counter-terrorism financing, and counter-proliferation financing regimes.

These included the Anti-Terrorism Unit, the Criminal Justice Unit, the Legislative Drafting Department of the Office of the Ministry of Legal Affairs, the Financial Intelligence Unit, the Securities and Exchange Commission, the Central Bank, and the Financial Investigations Branch of the TTPS.

The statement said, TT's participation was crucial as the country prepares for its fifth round of mutual evaluations. It said Armour discussed the government's work on implementing the Financial Action Task Force's (FATF) standards and says it is integral to removing profit from criminal activities and reducing the nation’s vulnerability to cross-border illicit flows of goods and funds.

"TT remains committed to supporting the CFATF in the implementation of the FATF recommendations and assessment methodologies for combating money laundering, terrorist financing and proliferation financing.

"The ultimate goal of this commitment is to protect the international, regional, and domestic financial systems from these risks and to encourage greater compliance with the AML/CFT standards among our neighbours in the Caribbean and Latin America."