Government committed to fighting financial crimes

GOVERNMENT remains committed to combating financial crimes such as money laundering and financing of terrorism.

In a statement on May 30, the Office of the Attorney General said that commitment was reflected by Attorney General John Jeremie leading a government delegation to participate in the 60th Caribbean Financial Action Task Force (CFATF) Plenary and Working Group Meetings which were held in Port of Spain from May 25-30.

The CFATF is an organisation comprising 25 member states of the Caribbean Basin, Central and South America, which have agreed to implement common countermeasures to address money laundering, countering the financing of terrorism and proliferation financing of weapons of mass destruction (AML/CFT/CPF).

The bi-annual CFATF plenary meetings are attended by all CFATF member states and co-operating and supporting nations (COSUNs) and provides a forum via which major operational issues affecting the members and international organisations are discussed.

The statement said the participation of Jeremie and his ministerial team at the meeting "underscores the government’s unwavering political commitment to implementing the FATF (Financial Action Task Force) standards. Their involvement highlights the nation's dedication to strengthening its AML/CFT/CPF framework."

"This commitment is pivotal in efforts to dismantle the financial incentives of criminal activities and to mitigate the country's vulnerability to cross-border illicit flows of goods and funds."

The government, the statement concluded, remains resolute in delivering effective measures to safeguard the financial system and uphold international standards.

Jeremie was accompanied by Justice Minister Devesh Maharaj and Legal Affairs Minister Saddam Hosein to the meeting.

At the post-cabinet news conference at the Red House, Port of Spain, Prime Minister Kamla Persad-Bissessar made a passing reference to the CFATF meeting when she said one of the notes approved by the cabinet at its weekly meeting involved the "approval of Trinidad and Tobago's National Anti-Money Laundering Combating Terrorism Financing Countering Proliferation Financing Policy and Strategy."