FSC Hosts Webinar on Anti-Money Laundering Amid High-Risk Designation

FSC Hosts Webinar on Anti-Money Laundering Amid High-Risk Designation

The Financial Services Commission (FSC) hosted a high-level webinar yesterday, to discuss anti-money laundering and the countering the financing of terrorism.  The webinar was focused on how Caribbean Nations can navigate compliance standards in response to being designated as “high-risk” territories by the Financial Action Task Force (FATS) and the European Union EU. Four hundred participants from thirty-eight countries participated in the webinar. During the webinar, La Donna John, Director of Legal and Enforcement at the FSC, presented Belize’s experience as a case study following the recent removal of the country from the EU’s list of high-risk countries for tax purposes. Leni Ysaguirre McGann, Director of the Financial Intelligence Unit (FIU) also discussed issues the country faces with the mutual evaluation process applied by the Caribbean Financial Action Task Force (CFATF) as well as steps taken to address recommendations to address those difficulties. Director General of the FSC Claude Haylock gave remarks at the webinar saying quote, “The exchange of ideas, expertise, and experiences among stakeholders has laid a solid foundation for future collaboration and action through Private-Public Partnerships (PPPs),” end of quote. The webinar saw the participation of countries from Europe, Africa, South and North America, Latin America, and East Asia.

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