Jamaica improves compliance with FATF stipulations
Vanassa McKenzie / Our Today
Minister of Finance and Public Service Dr Nigel Clarke says Jamaica’s compliance with stipulations of the Financial Action Task Force (FATF) has improved, as the island is now with 37 of 40 .
FATF recommendations provide a comprehensive framework of measures to help countries tackle illicit financial flows.
These include a robust framework of laws, regulations, and operational measures to ensure national authorities can take effective action to detect and disrupt financial flows that fuel crime and terrorism and punish those responsible for illegal activity.
Jamaica’s 4th Round Mutual Evaluation, conducted in 2015 by the Caribbean Financial Action Task
Force (“CFAFT”) and published in 2017, concluded that Jamaica was compliant or largely compliant in
only 17 of the FATF 40 stipulations.
Clarke, who was speaking in Parliament on Tuesday, December 19, said this progress in complying with Jamaica’s Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) framework is important step as the country wage a multi-pronged, decade-long struggle with organised crime.
“Moving from compliant and largely compliant in only 17 recommendations to now 37 recommendations required the amendment of many laws and the passage of new ones in addition to the passage of many pieces of amended and new regulations. And this required the resolve of this Administration, and this Parliament. As such, on behalf of all Jamaicans I acknowledge the support of my parliamentary and cabinet colleagues,”
MINISTER OF FINANCE NIGEL CLARKE
Clarke noted that Jamaica must now move to resolve the three remaining FATF recommendations with which the country is partially compliant. These recommendations fall in the categories of targeted financial sanctions related to proliferation, non-profit organisations, and new technologies.
“It is imperative that Jamaica swiftly addresses these three remaining pieces of legislation as the window for getting them in place is very narrow. Jamaica’s 5th Round of Mutual Evaluation is scheduled for mid-2026. However, the date for submitting its self-assessment of its legal framework against the FATF 40 Recommendations (Technical Compliance Template) is December 2025, ” he added.
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