Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says collective stakeholder efforts are required at all levels to significantly improve Jamaica’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

Speaking in the House of Representatives on Tuesday (January 28), Dr. Clarke, who noted that extensive measures have, to date, been undertaken to improve the framework, said a vast amount of work remains to be done.

“It is, therefore, imperative that Jamaica, via ministries and agencies with critical AML/CFT mandates, and the private sector collaborate in a national effort and marshal collective resources with the assistance of our international development partners, to address the gaps across the various systems and processes in the country’s overall AML/CFT regime,” he said.

The Finance Minister told the House that robustly addressing the issue has taken on greater significance across the world as the Financial Action Task Force (FATF), the global standard setter for combatting money laundering and financing of terrorism, has increased its scrutiny of the country’s implementation of 40 recommendations and is also taking steps to penalise countries falling short of established

https://jis.gov.jm/collective-stakeholder-efforts-key-to-advancing-anti-money-laundering-framework-dr-clarke/