CFATF holds standards training workshop
Wednesday, April 10, 2019
by GIS

The fourth round of the mutual evaluation process has begun as Saint Lucia seeks to determine whether it has done enough to achieve a favorable outcome in its compliance in the fight against money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.

Saint Lucia recently submitted to the Caribbean Financial Action Task Force (CFATF), the technical compliance questionnaire, and by May of this year, submissions will be made on Saint Lucia’s level of effectiveness.

A standards training workshop began on April 8, and is geared toward enhancing the capacity of the public sector to deal with the 40 recommendations made by the CFATF.

Saint Lucia’s Attorney General, Stephen Julien, said the standards which participants will be exposed to during the course of the training form the bedrock upon which the country will be assessed.

“An in-depth understanding and grasp of the concepts will aid in the preparation and execution of functions, not only for this evaluation but for future evaluations as well,” he said. “Rest assured that the Government of Saint Lucia remains resolute in its support in the fight against money laundering, terrorist financing and countering the financing of weapons of mass destruction. We recognize the tremendous significance of the mutual evaluation process and the impact to the country and stand ready to continue providing the requisite support.”

The latest round of evaluation will culminate with an on-site visit by the CFATF assessors from September 16 -27, after which the mutual evaluation report will be drafted.

During the upcoming on-site visit in September, the focus of the assessment team will be on effective implementation, and assessing how well Saint Lucia will implement CFATF recommendations.

The training is being funded through the 11th EDF programme of the European Union.