CFATF 56th Plenary and Working Group Meetings Outcomes

Photo from left to right: Members of the Head table of the CFATF- Ms. Ellisha George, Administrative Officer (CFATF Sec.), Lt. Colonel Edward Croft (Antigua and Barbuda), Ms. Avelon Perry, Financial Advisor (CFATF Sec.), Mr. Milangelo Brete, CFATF Deputy Chair (Aruba), Mr. Loxly Ricketts, Deputy Executive Director (CFATF Sec.), the Honourable Samuel Bulgin, KC, JP, CFATF Chair (Cayman Islands), Ms. Dawne Spicer, Executive Director (CFATF Sec.) and Ms. Cheryl-Ann Lister (Bermuda), CFATF Immediate Past Chair.

Port-of-Spain, Trinidad and Tobago, 28^th May 2023 to 1^st June, 2023 – The Chairman of the CFATF, the Honourable Samuel Bulgin, KC, JP, Attorney General of the Cayman Islands, chaired the CFATF 56^th Plenary and Working Groups Meetings held from 28^th May, 2023 to 1^st June, 2023.

The main issues dealt with by this Plenary were:

1. Mutual Evaluations

Discussion of the Mutual Evaluation Report (MER) of the Commonwealth of Dominica:  The Plenary approved the MER of Dominica following discussions at both the CFATF Working Group on FATF Issues (WGFI) meeting and at Plenary. The report sets out the level of effectiveness of the country’s AML/CFT system and its level of compliance with the FATF Recommendations. The completion of the post-Plenary Quality and Consistency (Q&C) process is pending. 

2. CFATF International Co-operation Review Group (ICRG) Matters (30^th May 2023) 

• Outcomes of the FATF ICRG February 2023 Working Group Meeting.
• Status Report on the FATF ICRG process for Jamaica, Barbados, Cayman Islands, Haiti, Antigua and Barbuda, Turks and Caicos Islands, Saint Lucia, Saint Kitts and Nevis, Grenada, Suriname and Venezuela.
• Discussion of the Follow-up Reports (FUR) – for information only:
  1. Trinidad and Tobago – 6^th Enhanced FUR
  2. Barbados – 4^th Enhanced FUR
  3. The Cayman Islands – 4^th Enhanced FUR
  4. Haiti – 3^rd Enhanced FUR
  5. Grenada – 1^st Enhanced
• FUR Update on the 4^th Round Follow-up Process (Other Jurisdictions – The Bahamas, Jamaica, Antigua and Barbuda, Turks and Caicos Islands, St. Lucia, St. Kitts and Nevis, Suriname, Venezuela, Bermuda and Aruba).
• Actions taken by the CFATF Members on the FATF Public Statements issued in October 2022 and February 2023.
• Proposed mechanisms for ending the 4^th Round Follow-Up reporting cycles for Members in the CFATF Follow-Up process.
  • The mechanisms were approved by the Plenary.
• Presentation on the FATF and CFATF ICRG Procedures by DED Ricketts.