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

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.

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Year of publication:	2009-01-29
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Combating the financing of terrorism \| Financial institutions \| Governance \| International cooperation \| Reports on the Observance of Standards and Codes \| money laundering \| law enforcement \| terrorist financing \| terrorist \| legal assistance \| terrorism \| competent authorities \| due diligence \| financing of terrorism \| share information \| beneficial ownership \| criminal matters \| supervisory authorities \| regulatory authorities \| foreign branches \| control information \| business relationships \| law enforcement agencies \| financial intelligence unit \| suspicious transaction \| mutual evaluation \| ensuring compliance \| legal assistance requests \| transaction reports \| criminal sanctions \| foreign counterparts \| internal controls \| value transfer \| financial crimes \| foreign authorities \| terrorism financing \| suspicious transaction reporting \| wire transfer \| terrorism act \| anti-terrorism \| anti-terrorism act \| transaction reporting \| beneficial owners \| law enforcement authorities \| terrorist acts \| dual criminality \| negotiable instruments \| criminal investigations \| assessment methodology \| suspicious transaction reports \| administrative sanctions \| terrorist organizations \| criminal liability \| enforcement authorities \| account files \| information exchange \| audit function \| suspicious transactions \| confidentiality requirements \| reporting obligations \| compliance officer \| money remitters \| financial investigation \| customer identification \| unusual transactions \| confiscation proceedings \| customer identity \| terrorist financing investigation \| drug trafficking \| conducting investigations \| foreign regulators \| supervisory regime \| criminal proceeds \| legal arrangements \| offshore banks \| identification data \| risk categories \| legal assistance treaties \| evidence gathering \| electronic surveillance \| unusual transaction reports \| terrorists \| transaction records \| lawful purpose \| investigative techniques \| international standards \| due diligence measures \| factual circumstances \| criminal offense \| suspicious transactions reporting \| shell banks \| wire transfer requirements \| independent source documents \| securities industry \| criminal prosecutions \| civil forfeiture \| supervisory agencies \| criminal acts

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 09/19 1 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011244934