IMF Staff Country Reports

Anguilla-Overseas Territory of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector—Review of Financial Sector Regulation and Supervision

November 26, 2003

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Anguilla-Overseas Territory of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector—Review of Financial Sector Regulation and Supervision, (USA: International Monetary Fund, 2003) accessed September 19, 2024

Summary

Anguilla is in the process of strengthening its legal and supervisory framework, which includes the creation of an operationally independent regulatory body, the Financial Services Commission. Priority should be given to improving the system for suspicious transaction reports, enhancing the customer due diligence requirements for introduced business, and conducting onsite inspections of company and trust service providers. The aim is to issue regulatory and industry codes that broadly meet the recommended best practices as contained in the draft Offshore Group of Banking Supervisors’ Statement.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Financial services, Money laundering, Offshore financial centers, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Caribbean, CFT law, CFT regime, CFT requirement, CFT system, Company manager, Company registration, Company service, CR, Disciplinary action, Draft Financial Services Commission, Due diligence, ECCB member country, Foreign currency, ISCR, Law enforcement authority, Money laundering, Money laundering Reporting Authority, Offshore financial centers, Terrorism financing, UK Government white paper

Publication Details

  • Pages:

    37

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2003/370

  • Stock No:

    1AIAEA0012003

  • ISBN:

    9781451800586

  • ISSN:

    1934-7685