Standards Training delivered to Dominica

Standards Training delivered to Dominica

Director of Dominica’s Financial Intelligence Unit (FIU), Mr. Mckelson Ferrol delivered the opening remarks at CFATF’s Standards Training for Dominica which was held from 12th to 14th January 2022 via the Zoom virtual meeting platform. Mr. Ferrol addressed close to seventy participants who represented fifty-one organizations ranging from the FIU and supervisory authorities, financial institutions to law enforcement agencies. He reminded them of their responsibility “to strengthen not only their organizations but Dominica, as a valuable partner in the regional AML/CFT network”.

The Standards Training was conducted by the Caribbean Financial Action Task Force (CFATF) through the support of the 11th European Development Fund (EDF) via the Project ‘Implementation of the Mutual Evaluation Programme’ aimed at building capacity during the region’s Fourth Round of Mutual Evaluations. Dominica’s on-site assessment is scheduled for August 2022 and this training covered key topics including but not limited to beneficial ownership, law and enforceable means, money laundering offences and confiscation. The training objective was to better prepare countries to demonstrate their compliance with and effective implementation of the Financial Action Task Force’s (FATF) Forty Recommendations, which are aimed at combating money laundering, terrorism financing and proliferation financing.

Previous Pre-Assessment Training to Dominica’s Public and Private Sectors

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