Port of Spain, Trinidad and Tobago, July 29, 2024 – The Caribbean Financial Action Task Force (CFATF) has re-rated the Republic of Haiti (Haiti) on 23 of the 40 Financial Action Task Force (FATF) Recommendations, following the country’s progress in strengthening its legal framework to combat money laundering and terrorist financing (AML/CFT).
Haiti has been undergoing the enhanced follow-up process since the adoption of its 4th Round Mutual Evaluation Report in 2019, which assessed the effectiveness of its AML/CFT regime and its level of compliance with the FATF Recommendations. In accordance with the Procedures for the Fourth Round of CFATF AML/CFT Mutual Evaluations, the country reported to the CFATF on the measures taken to address identified deficiencies and strengthen its AML/CFT framework.
Haiti’s 4th Enhanced Follow-up Report & Technical Compliance Re-Rating (report) analyses the strides made in addressing technical compliance deficiencies identified in the Mutual Evaluation Report. The report also considers whether the country’s measures meet the requirements of FATF Recommendations that were updated since the evaluation, taking into account any new legislative or institutional developments.
As a result of this progress, CFATF has re-rated Haiti on the following Recommendations:
- 1: Assessing risks & applying a risk-based approach from Non-Compliant to Partially Compliant
- 3: Money laundering offences from Partially Compliant to Largely Compliant
- 4: Confiscation and provisional measures from Partially Compliant to Largely Compliant
- 5: Terrorist financing offence fromPartially Compliant to Largely Compliant
- 10: Customer due diligence from Partially Compliant to Largely Compliant
- 11: Record keeping from Partially Compliant to Largely Compliant
- 12: Politically exposed persons from Partially Compliant to Largely Compliant
- 13: Correspondent banking from Partially Compliant to Compliant
- 16: Wire transfers from Non-Compliant to Largely Compliant
- 17: Reliance on third parties from Non-Compliant to Partially Compliant
- 18: Internal controls and foreign branches and subsidiaries from Non-Compliant to Largely Compliant
- 19: Higher-risk countries from Non-Compliant to Partially Compliant
- 20: Reporting of suspicious transactions from Partially Compliant to Largely Compliant
- 21: Tipping-off and confidentiality from Partially Compliant to Largely Compliant
- 22: DNFBPs – Customer due diligence from Non-Compliant to Largely Compliant
- 23: DNFBPs – Other measures from Non-Compliant to Partially Compliant
- 27: Power of supervisors from Partially Compliant to Largely Compliant
- 29: Financial intelligence units fromPartially Compliant to Largely Compliant
- 30: Responsibilities of law enforcement and investigative authorities from Partially Compliant to Largely Compliant
- 31: Powers of law enforcement and investigative authorities fromNon-Compliant to Compliant
- 32: Cash couriers from Non-Compliant to Partially Compliant
- 33: Statistics from Non-Compliant to Compliant
- 38: Mutual legal assistance – freezing and confiscation fromPartially Compliant to Largely Compliant
The report also notes areas where further improvement is required, including Recommendations that remain Partially Compliant or Non-Compliant.
As a result of these improvements, Haiti is now rated as Compliant or Largely Compliant with 20 out of the 40 FATF Recommendations.
Click here to access Haiti’s 4th Enhanced Follow-up Report & Technical Compliance Re-Rating