Issues
 Communications surveillance
 Travel surveillance
 Identity documents
 Terrorist watch lists
 Migration and border controls
 Security cooperation
 Financial surveillance

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Reports

Key Players

About the project

 

CFATF

Caribbean Financial Action Task Force

About CFATF

The Caribbean Financial Action Task Force is one of the more proactive regional financial action task forces and has developed its own set of recommendations aimed at combating money laundering and terrorist financing. The organisation also entertains good relations with several interested third countries and intergovernmental organisations.

More about the CFATF . . .

 
Activities

The Aruba Recommendations -- 1990 (Revised 1999)

The Aruba Recommendations (which initially constituted 21 recommendations) emanate from a ministerial meeting in 1990, nineteen of which were later ratified at the 1992 ministerial meeting in Kingston. These were revised in 1999.

The Recommendations complement the FATF Recommendations and are in fact highly similar in content, reiterating the majority of points raised, notably:

  • Consideration of the legal mens rea requirement for the offence of money laundering
  • Simplification of extradition procedures, and in this regard OAS/CATF dual member states should consider signing the OAS Convention on Extradition
  • Implementation of a system that provides for financial institution supervision

Nine substantial amendments were made in 1999 to the original recommendations, including:

  • Extension of money laundering predicate offences beyond narcotics trafficking to include all serious crime
  • Extension of anti-money laundering recommendations to the activities of non-financial businesses or professions
  • Concrete steps to be taken when identifying a legal entity
  • Require governments to take steps to limit the risks posed by developing technologies which permit remote large transactions
  • Require governments to initiate a mandatory suspicious transaction reporting system
  • Implementation of measures to address cross border smuggling
  • Currency dealers and financial institutions other than banks should be subject to the same anti-money laundering as other regulated financial institutions

The Kingston Declaration

The Kingston Declaration provides the foundations for much of the subsequent CFATF activity. Notably, it decrees:

  • CFATF governments should adopt a new definition of money laundering based on OAS Model Regulations concerning Money Laundering;
  • Each jurisdiction should recognise that mutual legal assistance is necessary and undertake to enter into arrangements ensuring both informal and formal means of mutual assistance and should consider adopting the OAS Inter-American Convention on Mutual Assistance in Criminal Matters;
  • Simplified extradition procedures;
  • Strong legal requirements regarding customer identifications;
  • Numbered accounts are acceptable providing that the bank knows the identification of the customer and would make that information available to the competent authorities;
  • Customer identification and record keeping data are mandatory;
  • Each government may chose between voluntary or required reporting of transactions.

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