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Reginald Farley says the country’s Financial Action Task Force Action Plan Implementation Team is redoubling its efforts to ensure Barbados remains off all international negative listings.
The President of the Senate Senator Reginald Farley, made the declaration following receipt of the Gold Award of Achievement.
Barbados was previously placed on the Financial Action Task Force grey list and the European Union blacklist for two years.
Senator Farley says the cohort is now better equipped to deal with the fifth round of assessments, noting that the rules have changed.
He explained that Barbados must demonstrate that it is not involved in funnelling money to fund terrorist activity or the proliferation of weapons of mass destruction.
Additionally, Senator Farley says Barbados must prove to the international financial community that the country now has systems in place to comply with the new arrangements detailed in the fifth round of assessments.
