Jamaica's measures to combat money laundering and terrorist financing

Publication details

Language

English

Country

Jamaica

This report provides a summary of the anti-money laundering (AML) / counter-terrorist financing (CFT) measures in place in Jamaica as at the time of the on-site visit on 1-12 June 2015. The assessment was conducted by the FATF-Style Regional Body the Caribbean Financial Action Task Force (CFATF). The findings of this assessment have also been reviewed and endorsed by the FATF.

CFATF Mutual Evaluation of Jamaica - 2017

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CFATF-Mutual-Evaluation-Jamaica-2017.pdf
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2 MB
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application/pdf
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Jamaica Mutual Evaluation 2017

R.1 - Assessing risk & applying risk-based approach
PC
R.2 - National cooperation and coordination
PC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
NC
R.7 - Targeted financial sanctions related to proliferation
PC
R.8 - Non-profit organisations
NC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
PC
R.11 - Record keeping
PC
R.12 - Politically exposed persons
PC
R.13 - Correspondent banking
C
R.14 - Money or value transfer services
PC
R.15 - New technologies
C
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
PC
R.18 - Internal controls and foreign branches and subsidiaries
PC
R.19 - Higher-risk countries
PC
R.20 - Reporting of suspicious transactions
C
R.21 - Tipping-off and confidentiality
PC
R.22 - DNFBPs: Customer due diligence
PC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
PC
R.25 - Transparency and beneficial ownership of legal arrangements
PC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
PC
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
LC
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
LC
R.33 - Statistics
PC
R.34 - Guidance and feedback
LC
R.35- Sanctions
PC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
C
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
C
R.40 - Other forms of international cooperation
PC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Jamaica Mutual Evaluation 2017

IO1
ME
IO2
ME
IO3
ME
IO4
LE
IO5
LE
IO6
ME
IO7
LE
IO8
SE
IO9
LE
IO10
LE
IO11
LE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

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