Barbados: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2009/019, IMF Staff Country Reports from International Monetary Fund

Abstract: This report focuses on the observance of standards and codes for the Financial Action Task Force on Money Laundering (FATF-40) recommendations for antimoney laundering (AML) and nine special recommendations on combating the financing of terrorism (CFT) for Barbados. The report discusses recommendations on how the AML/CFT system could be strengthened. It is revealed that law enforcement authorities and the Office of Director of Public Prosecutions are under-resourced in relation to their functions. The competent authorities continue to engage in a wide array of joint law enforcement initiatives.

Keywords: ISCR; CR; authority; Anti-Money Laundering; CFT; offense; Barbados; CFT requirement; CFT regime; confiscation regime; CFT framework; TF offense; Barbadian authorities; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Terrorism financing; Money laundering; Caribbean (search for similar items in EconPapers)
Pages: 19
Date: 2009-01-29
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