The following is credited to the CFATF and reprinted for your information. It can be seen at https://www.cfatf-gafic.org/index.php
CFATF
Caribbean Financial Action Task Force
Antigua and Barbuda exits The FATF ICRG Process
Since the adoption of Antigua and Barbuda’s ICRG Action Plan by the FATF in 2010, Antigua and Barbuda has made important progress on AML/CFT matters, meeting all its Action Plan items, by October 2013.
During the FATF Plenary in February 2014, the FATF indicated that Antigua and Barbuda was no longer subject to specific monitoring by the ICRG, explicitly, the FATF welcomed Antigua and Barbuda’s significant progress in improving its AML/CFT regime and noted that Antigua and Barbuda has established the legal and regulatory framework to meet its commitments in its Action Plan.
The CFATF also welcomes the significant progress showed by Antigua and Barbuda and congratulates the Honourable Justin Simon, QC, Attorney General, Colonel Edward Croft, Director, ONDCP, Ms. Althea Crick, Chairman, Financial Services Regulatory Commission for their leadership, dedication and technical capacity in pursuing the best interests f their country.
Above all, the CFATF family extends its warmest congratulations to the Honourable Baldwin Spencer Prime Minister of Antigua and Barbuda for his decisive leadership in seeking the assistance of the CFATF Secretariat in gathering a group of regional and international AML/CFT experts to assist the jurisdiction in the modernisation of the national AML/CFT architecture as well as his unwavering political support to ensure that the necessary human and financial resources were readily available, despite challenging economic conditions, to complete the reform programme.
The CFATF will continue to work with the jurisdiction, as it continues to address the full range of AML/CFT issues identified in its Mutual Evaluation Report, within the regular follow-up process.
See Statement by Antigua and Barbuda at the FATF Plenary, February 13th, 2014.
Statement by
Lt. Col Edward Croft
Antigua and Barbuda
on the occasion of the approval of the FATF to remove Antigua and Barbuda
from the FATF/ICRG Process
The FATF Plenary, Paris, France
10 – 14 February, 2014
13 February 2014.
Mr. President, Thank you for the opportunity to present some brief remarks. On behalf of the Government of Antigua and Barbuda and on behalf of the delegation of Antigua and Barbuda I bring warm greetings and extend personal greetings from the Attorney General who deeply regrets his unavailability since he was looking forward to being present to address this august body.
The journey on this FATF / ICRG road for Antigua and Barbuda began in 2010. This journey was most challenging but the country remained on its path with the encouragement of the International Cooperation Review Group (ICRG) and the Americas Regional Review Group (ARRG) to continue with its effort to address all outstanding strategic deficiencies. It was Thomas S Monson who declared, “Our most significant opportunities will be found in times of greatest difficulty” and attributed to Winston Churchill, is also this saying, “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty”. I advise this esteemed Plenary that Antigua and Barbuda viewed this situation as an opportunity to strengthen its AML/CFT framework, to reinforce the oversight requirements of the Supervisory and Regulatory structures and to enhance the awareness of the government of the importance of its AML/CFT obligations. The government pledges its commitment to continue with its implementation strategies, and to cooperate with the ongoing efforts within the CFATF. Antigua and Barbuda is certainly pleased that we have come to the end of this ICRG journey. Mr. President, while I have no objections in attending future FATF meetings, I do not again wish to travel on this ICRG road to get here.
The Government of Antigua and Barbuda wishes to extend its thanks to the CFATF for their support, the (ARRG) for their guidance, the ARRG Review team (Darlene, Diana & Nick) for their professionalism and diligence, the ICRG for their encouragement and to the FATF Plenary for your approval for removal.
My delegation and I express our thanks for this opportunity, there is an African Proverb that states “Smooth seas do not make skilful sailors”. We have had our fair share of rough waters, but as a result of this process we have grown and matured. We extend our sincerest appreciation for the courtesies extended and wish you Mr. President all the best in your future endeavours. To you, the distinguished members of the Plenary, Thank you, Merci, God bless and may you all have a safe return to your respective nations. Thank you.
