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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.

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Title Annotation:Caribbean Financial Action Task Force
Comment:ST. KITTS REMOVED FROM FATF BLACKLIST.(Caribbean Financial Action Task Force)
Publication:Caribbean Update
Article Type:Brief Article
Geographic Code:5STKI
Date:Aug 1, 2002
Words:164
Previous Article:REGIONAL INTEGRATION PROPOSED.
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