November 2015 Newsletter – Politically Exposed Persons & Enhanced Due Diligence
The Anti-Money Laundering Regulations, 2011 (“AMLR”) define a politically exposed person (“PEP”) as a person who is an individual who is a prominent public person or a person who has been entrusted with a prominent public function in a territory outside St. Christopher and Nevis
Read MoreCFATF Public-Statement – Port of Spain, Trinidad and Tobago
The Caribbean Financial Action Task Force (CFATF) is an organization of twenty seven jurisdictions of the Caribbean Basin Region, which has agreed to implement the international standards for Anti-money Laundering and Combating the Financing of Terrorism (AML/CFT) – Financial Action Task Force Recommendations (FATF Recommendations). In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the CFATF identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.
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