Saint Lucia's measures to combat money laundering and terrorist financing

Publication details

Language

English

Country

Saint Lucia

DRAFT 3 – MUTUAL EVALUATION OF SAINT LUCIA

This evaluation was based on the 2012 FATF Recommendations, and was prepared using the 2013 Methodology. The evaluation was based on information provided by the country, and information obtained by the evaluation team during its on-site visit to the country.

The findings of this assessment have been reviewed and endorsed by the FATF.

Please refer to the Executive Summary of the report for the Key Findings and Priority Actions.

 

 

CFATF Mutual Evaluation Report Saint Lucia - 2021

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CFATF-Mutual-Evaluation-Report-Saint-Lucia-2021.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.

Saint Lucia Mutual Report 2021

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

Saint Lucia Mutual Report 2021

IO1
LE
IO2
ME
IO3
LE
IO4
LE
IO5
LE
IO6
LE
IO7
ME
IO8
ME
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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