The Caribbean Financial Action Task Force (CFATF) will open this morning a two-day assessors training session at the Pegasus Hotel.

According to a release by the Ministry of Legal Affairs the participants for the training were invited from several CFATF member states, and consist of Financial, Law Enforcement and Legal experts. A total of 53 participants will be trained as Assessors during this period, including participants from Canada, Jamaica, Turks and Caicos, Belize and Guyana.

The aim of the workshop is to equip participants with the tools and competencies needed to undertake an assessment of the technical compliance with the revised FATF Recommendations, and for reviewing the level of effectiveness of a country’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime.

Participants will be introduced to the use of the FATF Methodology which is used to assess a country’s technical compliance with the FATF Recommendations, and for reviewing the level of effectiveness of a country’s AML/CFT system under the Fourth Round Mutual Evaluations process.

During this fourth round of mutual evaluations, the FATF has adopted complementary approaches for assessing technical compliance with the FATF Recommendations, and for assessing the level of effectiveness of a country’s AML/CFT regime. The training will include exercises on (i) the use of the FATF Methodology for assessing technical compliance with the FATF Recommendations and the effective of AML/CFT systems, and (ii) how to conduct the assessment. It will conclude with a mock evaluation to test participants’ knowledge and understanding of the process of assessing a country level of compliance with of the FATF Recommendations, and the level of effectiveness of their AMLCFT programmes.