Barbados: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

January 29, 2009

Summary

This report focuses on the observance of standards and codes for the Financial Action Task Force on Money Laundering (FATF-40) recommendations for antimoney laundering (AML) and nine special recommendations on combating the financing of terrorism (CFT) for Barbados. The report discusses recommendations on how the AML/CFT system could be strengthened. It is revealed that law enforcement authorities and the Office of Director of Public Prosecutions are under-resourced in relation to their functions. The competent authorities continue to engage in a wide array of joint law enforcement initiatives.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: Anti-Money Laundering, Anti-money laundering and combating the financing of terrorism (AML/CFT), authority, Barbadian authorities, Barbados, Caribbean, CFT, CFT framework, CFT regime, CFT requirement, confiscation regime, CR, ISCR, Legal support in revenue administration, Money laundering, offense, Terrorism financing, TF offense

Pages:
19
Volume:
2009
DOI:
https://doi.org/10.5089/9781451806106.002
Issue:
019
Series:
Country Report No. 2009/019
Stock No:
1BRBEA2009001
ISBN:
9781451806106
ISSN:
1934-7685

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