Caribbean Financial Action Task Force

The Caribbean Financial Action Task Force (CFATF) is an organization of the Caribbean Basin states, which have agreed to implement common countermeasures to address the problem of criminal money laundering.

CFATF Background

The Group was established as the result of two meetings convened in Aruba in May 1990 and Jamaica in November 1992.

In Aruba representatives of the countries from the Caribbean and the Central America developed a common approach to the phenomenon of the laundering of the proceeds from crime and formulated Nineteen Recommendations (Aruba Recommendations). These recommendations, which have specific relevance to the region, are complementary to the FATF 40 Recommendations.

The Jamaica Ministerial Meeting that was held in Kingston in November 1992 resulted in the Kingston Declaration in which the ministers endorsed and affirmed their governments' commitment to implement the FATF and Aruba Recommendations, the OAS Model Regulations, and the UN Convention against illicit traffic in narcotic drugs and psychotropic substances 1988. They also mandated the establishment of the Secretariat to co-ordinate the implementation of these documents by CFATF member-states.

The main objective of the CFATF is to achieve effective implementation of the documents and compliance with international standards to prevent and control money laundering and to combat the financing of terrorism. The Secretariat was established as a mechanism to monitor and encourage progress to ensure full implementation of the Kingston Ministerial Declaration.

The CFATF Secretariat monitors members' implementation of the Kingston Ministerial Declaration through the following activities:

The Secretariat developed a regional strategy for technical assistance and training to aid the CFATF members in the effective investigation and prosecution of money laundering and related asset forfeiture cases.

CFATF has the status of Associate Member within the FATF.

CFATF Organizational Chart

The Council is the supreme authority within the CFATF and consists of one ministerial representative or duly authorized alternate from each member-state. The Council meets at least once annually. The Council is headed by the Chair, and in case of his absence – by the Deputy Chair.

The Plenary meets at least twice annually. The Chair and Deputy Chair of the Council are respectively Chair and Deputy Chair of the Plenary. Each member-state is represented by one senior official in the Plenary. The Plenary may establish working groups to undertake specific tasks.

The Secretariat performs technical and administrative functions under the direction of the Executive Director and the Deputy Executive Director.

CFATF Members

CFATF Observers

Besides the observers there are also the Cooperating and Supporting Nations within CFATF which have been considering the work of CFATF since 1990 providing technical assistance and training:

***   EAG participated in APG Plenary meeting held on July 13 - 16, 2010 in Singapore    ***   EAG was granted associate member status within the FATF    ***   The EAG 12th Plenary took place in Almaty (Kazakhstan)   ***   EAG Working Groups intersessional meeting took place in Moscow (Russia) on March 29-31   
Telephone/Fax: +7 495 607-7255
Email: info@eurasiangroup.org
© EAG, 2009
© ITMCFM, 2009
All rights reserved