Information Officer II
Dept. of Information & Public Relations
Telephone: 468- 2740
The National Risk Assessment (NRA) Council wishes to thank the businesses and organisations from the various sectors of the economy who participated in phases I and II of the NRA exercise.
Chairman of the NRA Communications Committee Mrs. Arliene T. Penn said, “The response rate was positive and has helped to identify the money laundering and terrorist financing risks and ensure these risks are addressed prior to the next Territorial assessment by the Caribbean Financial Action Task Force in 2017.”
Mrs. Penn explained that as part of the new Financial Action Task Force (FATF) International Standards on Combating Money Laundering, and the Financing of Terrorism and Proliferation, each member country of the FATF and its associated regional bodies are required to ensure that they can identify, assess and understand the money laundering and terrorist financing risks for their country.
She stated that the data collected during phases I and II has now been assessed and the results are being prepared.
Mrs Penn added, “The results of this assessment will identify the threats, weaknesses and vulnerabilities to the Territory’s anti-money laundering and countering the financing of terrorism regime and will provide recommendations for mitigating the identified risks,” she said.
These results and recommendations will form the basis of the Territory’s first National Risk Assessment Report which, upon completion will be presented to the National Risk Assessment Council.
Participants are reminded that the NRA exercise is confidential and information gathered will only be used for this purpose.