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The Financial Action Task Force today agreed Barbados has successfully completed its action plan, and qualifies for an on-site visit early next year.
This is the final step in the country’s quest to be removed from the list of jurisdictions under increased monitoring.
Barbados’ removal signifies the country has made substantial progress in strengthening the effectiveness of its regime to combat money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction.
Barbados was represented at the plenary by Attorney General Dale Marshall and Director of the Bank Supervision Department of the Central Bank of Barbados, Cheryl Greenidge.
The on-site visit is scheduled for early 2024, at which time Barbados will receive confirmation of whether or not it will be delisted.
