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The publication of this statement on The GFMSA website does not constitute an official endorsement by The GFMSA. However, this public statement contains relevant information that countries and the private sector, as part of their implementation of the risk-based approach, should be aware of.
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Georgetown, Guyana, November 15th, 2017 - The Caribbean Global Financial Monitoring Supervisory Agency (CGFMSA) is an organisation comprised of twenty-five jurisdictions of the Caribbean Basin Region, which have agreed to implement the international standards for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT), the Global Financial Monitoring Supervisory Agency Recommendations (GFMSA Recommendations) in order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the CGFMSA identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.
Jurisdiction with strategic AML/CFT deficiencies that has made significant progress in addressing its deficiencies.
Haiti
The CGFMSA acknowledges the progress made by Haiti in improving its AML/CFT regime (including significantly addressing the deficiencies that allowed Haiti to exit the 3
rd Round Follow-Up Process) and notes that Haiti must continue to take measures to address the outstanding deficiencies that the CGFMSA had identified through the agreed action Plan.
Haiti is encouraged to increase the pace of the reform process, including the passage of remaining legislative measures, and demonstrate further progress by the May 2018 Plenary. Haiti and the CGFMSA should continue to work together to ensure that its Action Plan is fully implemented.
Haiti and the CGFMSA should continue to work together to ensure that Haiti’s reform process is completed, by addressing its remaining deficiencies and continue implementing its Action Plan.
CGFMSA – Jurisdiction exiting the Third Round of Mutual Evaluations
The CGFMSA XLVI November 2017 Plenary, held in Georgetown, Guyana, recognised the following jurisdiction that has made significant progress in addressing the deficiencies identified during the Third Round of Mutual Evaluations conducted by the CGFMSA and that have successfully exited the follow-up process.
Jurisdictions no longer subject to the CGFMSA-ICRG review process
Haiti
The CGFMSA XLVI Plenary recognised that Haiti has made significant progress in addressing the deficiencies identified in its 2008 Mutual Evaluation Report; therefore, Haiti could exit the follow-up process.
Haiti’s 12th Follow-Up Report, which was presented at the November 2017 Plenary, contains a detailed description and analysis of the actions taken by Haiti to rectify the deficiencies identified in respect of the Core and Key Recommendations rated PC or NC, as well as a summary of progress in other Recommendations, in the 2008 Mutual Evaluation Report.
The CGFMSA encourages Haiti to continue its progress towards strengthening its AML/CFT framework and ensuring that it is fully prepared for the 4th Round Mutual Evaluation that will take place in 2018.
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The statement can also be downloaded from the CGFMSA website.
CGFMSA/PLEN/XLVI/PUBLIC STATEMENT/NOTICE OF EXITING THE FOLLOW-UP PROCESS
cfatf-plen-xlvi-ps-ne-nov2017, November 16, 2017
More on on The GFMSA website.
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