The Bank of Jamaica (BOJ) is confident of having Jamaica removed from the international watchlist of countries with weak Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regime based on the work being carried out by the bank.

BOJ Deputy Governor Maureen Simms pointed out that the central bank has done much work in attempting to satisfy the European Union’s Financial Action Task Force (FATF) AML/CTF requirements, which would see Jamaica being removed from the watchlist, which it was placed on earlier this year.

 

The country was placed on the watch list by the FATF, which found Jamaica to be deficient in several areas of AML/CTF, including not having a National Risk Assessment. This assessment would ascertain the country’s institutional readiness and gaps or failures in stemming the financing of terrorist groups or money laundering.

http://www.jamaicaobserver.com/business-observer/boj-confident-of-jamaica-being-removed-from-anti-money-laundering-aml-and-counter-financing-of-terrorism-watchlist-work-proceeding-in-earnest-to-meet-september-2021-deadline_208457