AML/CFT - Follow-up Reports & Re-Ratings

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BARBADOS: 2ND FOLLOW-UP REPORT AND TECHNICAL COMPLIANCE RE-RATING (CFATF)

This report acknowledges that Barbados has made good progress in addressing the technical compliance deficiencies identified in its 4th Round Mutual Evaluation Report (MER) and has been re-rated on 13 Recommendations.

* No recommendations are NC
* Barbados fully addressed the deficiencies in Recs. 4 and 20 which are re-rated as C
* Barbados has also addressed most of the technical compliance deficiencies identified on Recs. 1, 7, 19, 29, 32, 33, 34 and 38 such that only minor shortcomings remain, and these Recommendations are re-rated as LC
* Recs. 2, 5 and 18 maintain the rating of LC
* Recs. 23 and 24 maintainthe rating of PC
* Rec. 8 was upgraded to PC
* Recs. 15 and 21 were downgraded to PC

In light of Barbados’ progress since its MER was adopted, its technical compliance with the FATF Recommendations has been re-rated as follows:

Note: There are four possible levels of technical compliance: compliant (C), largely compliant (LC), partially compliant (PC), and non-compliant (NC).

The report can be found at the link: Barbados (cfatf-gafic.org) (https://www.cfatf-gafic.org/documents/4th-round-follow-up-reports/barbados-4?utm_source=newsletter_9335&utm_medium=email&utm_campaign=cfatf-correction-barbados-2nd-enhanced-follow-up-report-and-technical-compliance-re-rating)

Barbados will continue to report back to the CFATF on its progress to strengthen its implementation of AML/CFT measures.