Turks and Caicos, June 22, 2017 – Providenciales – The Turks and Caicos Islands is to complete its first Money Laundering and Terrorist Financing National Risk Assessment this June in line with the Financial Action Task Force (FATF) recommendations against which each country assesses its own money laundering and terrorist financing risks.
The TCI National Risk Assessment aims at creating a comprehensive and evidence-based understanding of the money laundering and terrorist financing risks faced by the jurisdiction. The initial phase commenced in October 2014, with a workshop which identified the approach to gathering supporting data.
Around fifty stakeholders and representatives from both the public and private sectors will convene for a two day workshop at the Blue Haven Resort in Providenciales on 26th to 27th of June 2017 with a closed half day workshop for policy makers on 28th June 2017. The workshop is to facilitate the making of comprehensive action plans to allow for a consistent approach to decrease the levels of risks, and strengthen controls and supervisory oversight in each sector.
Announcing the launch completion of the National Risk Assessment, chair of the national Anti-Money Laundering Committee, the Attorney General Rhondalee Braithwaite Knowles OBE said; “This is a major initiative here in the Turks and Caicos Islands which will enable us to develop an effective framework to prevent money laundering and combat terrorist financing.”
World Bank experts Mrs. Emily Adeleke and Mr. Roberto Biel will lead the various workshop sessions.
For more information on the National Risk Assessment, please contact Khalila Astwood, Principal Crown Counsel, International at the TCI Attorney General Chambers at firstname.lastname@example.org or Paul Coleman, Head of the Compliance Unit at the Turks and Caicos Financial Services Commission at: email@example.com
Press Release: TCIG