Grenada Removed from Money Laundering Watchlist

Grenada Coat of Arms

A very important decision was taken by the Financial Action Task Force (FATF) at its recently concluded Plenary Meeting which was held in Paris during the month of October 2015, where it was agreed that 6 CFATF (Caribbean Financial Action Task Force) member states should be removed from the pool of 56 jurisdictions that were waiting for ICRG review of their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regimes. 

Aruba, Belize, Dominica, Grenada, St. Kitts and Nevis, and St Lucia successfully exited the FATF International Co-operation Review Group “pool”.

CFATF Executive Director, Calvin Wilson, at the June 2015 FATF Brisbane Australia Plenary sought and the FATF agreed, that consideration could be given to removing from the pool those countries that had exited the follow up process of their respective FATF Style Regional Body (FSRB).

The CFATF Secretariat over the ensuing months co-ordinated with the FATF Secretariat and submitted the Follow up Reports on Aruba, Belize, Dominica, Grenada, St. Kitts and Nevis and St. Lucia, which led the CFATF to agree that these jurisdictions should exit the CFATF Follow up process.

In making this decision, the FATF recognized that these 6 countries “were subject to a rigorous follow up process by the CFATF”, a commendation that should make all CFATF members as well as the staff at the Secretariat very proud.

To this end, we take this opportunity to thank the Financial Institutions, Insurance Companies, Money Services Business, Credit Unions and all other stakeholders who participated in the Grenada’s Exit process.

The Government of Grenada and the Anti-Money Laundering Commission continues to pledge its commitment in the fight against Anti-money Laundering, terrorist financing and the proliferation of Drugs.

 

Cajeton A.K. Hood
Attorney–General &
Chairman, AML/CTF Commission

For further information please contact:
Office of the AML/CTF Commission, Ministry of Legal Affairs
e-mail: [email protected] or [email protected]

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