ST. KITTS REMOVED FROM FATF BLACKLIST.
St. Kitts & Nevis is one of four countries removed from the
Financial Action Task Force (FATF) list of non-cooperative countries
and territories (NCCTs) in the fight against money laundering, it was
reported on June 21. Also removed from the blacklist were Lebanon,
Israel and Hungary. Calvin Wilson, Exec. Dir. of the Trinidad-based
Caribbean Financial Action Task (CFATF) said the decision to remove St.
Kitts & Nevis from the FATF List was formally taken during a meeting
of the FATF in Paris, France "because of the necessary legislative
provisions that were put in place over the past few months and the fact
that despite the institutions being new, that the implementation process
has begun and no doubt will continue in the future." Dominica, St.
Vincent & the Grenadines and Grenada, three other Caribbean nations
on the FATF blacklist, have been invited to submit implementation plans
of their legislative changes which will be reviewed at the next Plenary
Meeting on October 9 - 11 2002 in Paris.