St.Kitts and Nevis 2nd Enhanced Follow-Up Report and Technical Compliance Re-rating

Port of Spain, Trinidad and Tobago, December 18, 2023 – St. Kitts and Nevis has undergone an enhanced follow-up process following the adoption of its Mutual Evaluation Report. The report assessed the effectiveness of St. Kitts and Nevis’ anti-money laundering and counter-terrorist financing (AML/CFT) measures and the country's compliance with the FATF Recommendations. 

In conformity with the CFATF Procedures for the Fourth Round of AML/CFT Mutual Evaluations, St. Kitts and Nevis has reported to the CFATF regarding the progress it has made to strengthen its AML/CFT framework and the 2^nd Follow-Up Report of St. Kitts and Nevis evaluates the country's efforts to address the technical compliance deficiencies identified in the Mutual Evaluation.

According to the report, St. Kitts and Nevis has made considerable strides in its fight against ML and TF since its 2022 Mutual Evaluation Report. As a result, the Caribbean Financial Action Task Force has re-rated the country on five out of the 40 Recommendations:

Recommendation 2: National cooperation and coordination from Partially Compliant to Largely Compliant

Recommendation 6: Targeted financial sanctions related to terrorism & terrorist financing from Partially Compliant to Largely Compliant.

Recommendation 10: Customer due diligence from Partially Compliant to Largely Compliant

Recommendation 25: Transparency and beneficial ownership of legal arrangements from Partially Compliant to Largely Compliant

Recommendation 26: Regulation and supervision of financial institutions from Partially Compliant to Largely Compliant

St. Kitts and Nevis is presently rated as Compliant or Largely Compliant with 31 out of the 40 FATF Recommendations.

 Click here to gain access to the FUR.