Dec 10, 2018 Last Updated 10:09 AM, Dec 6, 2018

The Minister of Finance & the Public Service

The Hon. Nigel Clarke, DPhil., MP, is Jamaica's Minister of Finance and the Public Service and is Member of Parliament for St Andrew Northwestern. ...

Minister without Portfolio in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister without Portfolio in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and h...

Financial Secretary

Miss Darlene Morrison...

GOJ Aims to Strengthen AML/CFT Regime

Recently named Head of the Jamaican Delegation of the Caribbean Action Financial Task Force (CFATF), the Honourable Fayval Williams, Minister without Portfolio in the Ministry of Finance and the Public Service, speaking at the plenary of CFAFT held in Barbados last week stressed that, “Jamaica will intensify its efforts to bolster its Anti-Money Laundering and Combating Financing of Terrorism regime (AML/CFT).”

Minister Williams, a stout advocate of the AML/CFT Framework, expressed that it is imperative that Jamaica’s legislative and institutional framework is in full compliance with the Financial Action Task Force 40 Recommendations by 2020.

In addition, she noted that “this timeline is important to ensure that the country is not named as a country with “strategic deficiencies” and therefore subject to countermeasures by other countries.”

The Minister highlighted that the global financial system is uncompromising in this requirement
for all countries to have a strong AML/CFT system.

Financial Action Task Force (FATF) which is the parent organization of CFATF places countries
on surveillance if it considers that the country is not moving quickly enough to adopt the global
standards.

A strident Minister Williams said that “Jamaica has an obligation to be the best checkpoint it can
be to ensure that the financial system in Jamaica does not allow itself to be corrupted with
proceeds of crime and financing for terrorism.”

CFATF is a regional organization of twenty-five (25) states of the Caribbean Basin, Central and
South America, which have agreed to implement common countermeasures to address money
laundering.

For further information contact:

Communication & Public Relations Branch
Ministry of Finance and the Public Service
30 National Heroes Circle
Kingston 4
Tel: (876) 932-4656/4660/4655

Contact: Elaine Oxamendi Vicet / Daniel Passley
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. / This email address is being protected from spambots. You need JavaScript enabled to view it.

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