Saint Lucia 4th Enhanced Follow-Up Report and Technical Compliance Re-rating

Port of Spain, Trinidad and Tobago, October 14, 2024 – Saint Lucia has undergone an enhanced follow-up process following the adoption of its Mutual Evaluation Report. The report assessed the effectiveness of Saint Lucia 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, Saint Lucia has reported to the CFATF regarding the progress it has made to strengthen its AML/CFT framework and the 4th Follow-Up Report of Saint Lucia evaluates the country's efforts to address the technical compliance deficiencies identified in the Mutual Evaluation. 

According to the report, Saint Lucia has made considerable strides in its fight against ML and TF since its 2021 Mutual Evaluation Report. As a result, the Caribbean Financial Action Task Force has re-rated the country on 7 out of the 40 Recommendations:

  • Recommendation 6: Targeted Financial Sanctions related to Terrorism & Terrorist Financing from Non-Compliant to Partially Compliant
  • Recommendation 7: Targeted Financing Sanctions related to Proliferation from Non-Complaint to Partially Compliant
  • Recommendation 15: New Technologies from Partially Complaint to Largely Compliant
  • Recommendation 26: Regulation and Supervision of Financial Institutions from Non-Compliant to Largely Compliant
  • Recommendation 28: Regulation and Supervision of DNFBPs from Partially Complaint to Largely Compliant
  • Recommendation 33: Statistics from Partially Complaint to Largely Compliant
  • Recommendation 38: Mutual legal assistance: freezing and confiscation from Partially Compliant to Largely Compliant 

Saint Lucia is presently rated as Compliant or Largely Compliant with 35 out of the 40 FATF Recommendations. 

Click here to gain access to the FUR.