CFATF 57^th Plenary and Working Group Meetings Outcomes

In the front table, from left to right: Ms Avelon Perry, Financial Advisor (CFATF Secretariat); Ms Celeste McCalla, WGFI Co-Chair; Mr Francis Arana, WGFI Co-Chair; Ms Dawne Spicer, Executive Director (CFATF Secretariat); the Honourable Samuel Bulgin, KC, JP, CFATF Chair (Cayman Islands); Mr Angelo Brete, Director FIU Aruba, CFATF Deputy Chair; Mr Loxly Ricketts, Deputy Executive Director (CFATF Secretariat); and Ms Cheryl-Ann Lister CFATF Immediate Past Chair (Bermuda).

Hilton Aruba Caribbean Resort & Casino, November 26th 2023 to December1^st 2023 – The CFATF 57^th Plenary and Working Group Meetings took place from November 29^th to December 1^st 2023 under the Chairmanship of the Honourable Samuel Bulgin, KC, JP, Attorney General of the Cayman Islands.  

The main issues dealt with by this Plenary were:

1. Mutual Evaluation Reports – 30^th November and 1^st December 2023: The CFATF 57^th Plenary discussed the MERs of the Virgin Islands and St. Vincent and the Grenadines. These reports were prepared based on the FATF 4^thRound Methodology. They set out the level of effectiveness of the country’s AML/CFT system and their level of technical compliance with the FATF Recommendations. The Plenary approved these MERs following discussions at the CFATF Working Group on FATF Issues (WGFI) meeting and Plenary. The completion of the Post-Plenary Quality and Consistency (Q&C) process is pending, after which these reports will be published on the CFATF website.
2. CFATF Heads of FIU Forum (HoFIU)– 26^th November 2023: The HoFIU was informed about updates by the Egmont Group’s Regional Representative for the Americas. The Law Enforcement Assistance Programme to Reduce Tropical Deforestation (LEAP), United Nation Office on Drugs and Crime (UNODC), presented on the topic of "Illegal Deforestation and Associated Financial Flows". Furthermore, a panel of experts discussed the risks of environmental crime and FIUs domestically and internationally. The CFATF FIUs' activities in the Region were also presented in a paper. Additionally, the Financial Criminal Investigation Network (FCInet) from the Netherlands delivered a presentation, and COPOLAD provided information on technical assistance and training updates.
3. CFATF Risk Trends and Methods Group (CRTMG) – November 26^th, 2023: The CRTMG addressed the outcomes of the FATF RTMG meeting in June and October 2023. Updates were also given on the CRTMG projects concerning the stocktaking exercise on 'de-risking' in the Caribbean region and the potential implications of a hybrid decriminalization approach or legislation of cannabis on AML/CFT. Regarding new projects, a presentation and concept note were shared which focused on ML vulnerabilities in the financial arrangements of non-traditional DNFBPs. The experts meeting scheduled for 2024 was also discussed. Lastly, the 2023 BREMOLT Awards were presented and voted on during the meeting.
4. CFATF Working Group on FATF Issues (WGFI) -27^th and 28^th November 2023: The WGFI informed its delegates of the Key Issues (KIs) of the Mutual Evaluation Reports of the Virgin Islands (British) and St. Vincent and the Grenadines. The WGFI agreed to present four (4) KIs to the Plenary for discussion for the Virgin Islands (British). For the MER of St. Vincent and the Grenadines, the Working Group discussed five (5) KIs and concluded that only one needed to be submitted to the Plenary for discussion. A presentation was delivered on the outcomes of the June and October 2023 FATF Working Group meetings. Finally, the Working Group discussed amendments to the CFATF Procedures for the 4^th Round of Mutual Evaluations.

5. CFATF International Co-operation Review Group (ICRG)- November 28^th, 2023: At this meeting, the Working Group discussed five (5) Follow-up Reports (FURs) with technical compliance re-ratings, Jamaica (6^th Enhanced FUR), Turks and Caicos (4^th Enhanced FUR), St. Lucia (3^rd Enhanced FUR), St. Kitts and Nevis (2^nd Enhanced FUR) and Suriname (1^st Enhanced FUR). The FUR for St. Lucia was subsequently approved at Plenary and the post-Plenary Quality and Consistency (Q&C) process is pending. In addition, the FURs for the Bahamas (6^th Enhanced FUR, Antigua and Barbuda (5^th Enhanced FUR) and Venezuela (1^st Enhanced FUR) were brought forward to the Working Group for information purposes only.
6. The discussions of the Working Group included the Status Report on the FATF ICRG process for Jamaica, Barbados, the Cayman Islands, Haiti, Antigua and Barbuda, Turks and Caicos Islands, St. Lucia, St. Kitts and Nevis, Grenada, Suriname and Venezuela. Updates were also provided on the 4^th Round Follow-up Process for Barbados, the Cayman Islands, Haiti, Grenada, Aruba and Dominica. The outcomes of the FATF ICRG June and October 2023 Working Group Meetings as well as the actions taken by the CFATF Members on the FATF Public Statements issued in June 2023 were presented to the Working Group. 

7. Other Updates Received: The CFATF 11^thEDF Office undertook several projects between December 2022 and December 2023, The Mutual Evaluation on-site visits for Guyana and Belize were executed from September 4^th to 15^th and December 4^th to 15^th, 2023 respectively. Two (2) Pre-Onsite Training events for Guyana and Belize were also supported by the 11^th EDF, the first occurred from August 7^th to 10^th while the second occurred October 30^th to November 2^nd, 2023. The Joint FATF/CFATF Assessors Training in Antigua was completed in July 2023 through the aid of the 11^th EDF as well. 

8. The 11th EDF completed various communication initiatives from December 2022 through December 2023. There was a Public Education and Awareness drive titled “#Committed2Compliance” launched in July 2023. Moreover, two (2) episodes of the #Committed2Compliance Video Series were done. The CFATF Virtual Learning and Collaborative Studio (VLCS) equipment was purchased and assembled in June 2023. This facilitated the successful completion and publication of Module 1 of the Assessors Mentorship Programme, animated short form content and two (2) episodes of the C2C Video Series. External content from the UNODC is housed on the platform as well. The 11th EDF also issued articles on AML/CFT matters, short-form educational animations via Caribbean News-Press, CFATF Newsletter, and CFATF Social media posts. Invitations for registration on the VLCS will be sent out between December 2023 and January 2024. 

9. CFATF Governance: For the period December 2023 to December 2024, the Chairmanship of the CFATF is held by Aruba represented by Milangelo Brete, Director of the Financial Intelligence Unit of Aruba. The Deputy Chairmanship is held by Jamaica represented by the Honourable Dr. Nigel Clarke, Minister of Finance and Public Service, Jamaica. The position of Immediate Past Chair is held by The Cayman Islands represented by the Honourable Samuel Bulgin, KC, JP, Attorney General of the Cayman Islands, which ensures the tripartite governance of the CFATF.

CFATF Secretariat

December 14^th, 2023