Caribbean Financial Action Task Force (CFATF)

Members:

Anguilla
Antigua & Barbuda
Aruba
Bahamas
Barbados
Belize
Bermuda
British Virgin Islands
Cayman Islands
Costa Rica
Dominica
Dominican Republic
El Salvador
Grenada
Guatemala
Guyana
Haiti
Honduras
Jamaica
Montserrat
Netherland Antilles
Nicaragua
Panama
St. Kitts & Nevis
St. Lucia
St. Vincent & the Grenadines
Suriname
Trinidad & Tobago
Turks & Caicos Islands
Venezuela

Co-operating and Supporting Nations (COSUNs):

Canada
France
Mexico
Netherlands
Spain
United Kingdom
United States

Observers:

Asia / Pacific Group Secretariat
Caribbean Customs and Law Enforcement Council (CCLEC)
Caribbean Development Bank (CDB)
CARICOM
Central American bank for Economic Integration (Banco Centro Americano de Integración Económica)
Commonwealth Secretariat
ECDCO
ECCB
European Commission
FATF
GAFISUD
UN Global Programme on Money Laundering (GPML)
IMF
Inter-American Development Bank (IADB)
Interpol
Jersey
Offshore Group of Banking Supervisors (OGBS)
Organization of American States / Inter-American Drug Abuse Control Commission (OAS/CICAD)
United Nations Office for Drug Control and Crime Prevention (UNDCP)

World Bank
World Customs Organisation (WCO)

BACKGROUND ON THE CARIBBEAN FINANCIAL ACTION TASK FORCE (CFATF)

The CFATF is an organisation of states and territories of the Caribbean basin which have agreed to implement common counter-measures against money laundering. The Task Force was established as the result of two key meetings convened in Aruba in and Jamaica in the early 1990s. At the Aruba meeting in May 1990, the Caribbean nations developed nineteen recommendations – the "Aruba Recommendations" – that address money laundering from a regional perspective and which complement the worldwide standards embodied in the FATF Forty Recommendations. The Jamaica Ministerial Meeting held in Jamaica in November 1992 led to the "Kingston Declaration", a statement by the Ministers which endorsed and affirmed their governments’ commitment to implementing international anti-money laundering standards.

In November 1996, 21 members of the CFATF entered into a Memorandum of Understanding which now serves as the basis for the goals and the work of the CFATF. In this document, CFATF members agree to adopt and implement the 1988 UN Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances; endorse and implement the FATF Forty Recommendations and the CFATF Nineteen Recommendations; fulfil the obligations expressed in the Kingston Declaration as well as, where applicable, in the Plan of Action of the Summit of the Americas; and to adopt and implement any other measures for the prevention and control of the laundering of the proceeds of all serious crimes as defined by the laws of each Member.

To meet these objectives, the CFATF engages in the following main activities:

• Self-assessment of the degree of implementation of the FATF and CFATF recommendations.
• Mutual evaluations of members.
• Co-ordination of, and participation in, training and technical assistance programmes.
• Twice-yearly plenary meetings for technical representatives and an annual ministerial council meeting.

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