Despite making significant progress in strengthening Jamaica’s anti-money laundering/counter-financing of terrorism (AML/CFT) framework, Minister of Finance Dr Nigel Clarke says the court proceedings between the Jamaican Bar Association and the Government will delay the country from leaving international money-laundering lists.
“… Because it is before the court I don’t want to say too much on it, but let me say this, that it is unlikely that Jamaica will emerge from the [Financial Action Task Force] FATF grey listing and from the ancillary listing that other countries or regional blocks have put Jamaica on without a satisfactory resolution… meaning without the legal profession being brought under the AML/CFT framework,” Clarke said during the Jamaica Bankers Association and Jamaica Institute of Financial Services 10th annual AML/CFT virtual conference yesterday.
