Jamaica removed from FATF grey list
Jamaica has now been removed from the Financial Action Task Force’s list of Jurisdictions under Increased Monitoring or “grey list”, a group of jurisdictions identified as having “weak measures to combat money laundering and terrorist financing.”
Jamaica had been on the grey list since February 2020, and has worked tirelessly to be removed from it. The FATF stated that “Jamaica strengthened the effectiveness of its AML/CFT regime to meet the commitments in its action plan regarding the strategic deficiencies that FATF identified in February 2020.”
AML Analytics is delighted to have been working closely with Jamaica since 2020 to help them reach this significant milestone utilising our unique sanction screening system testing, transaction monitoring validation, and risk analytics technologies.
ORBS (Online Risk Based Systems), continues to provide critical oversight and understanding about the levels of AML/CFT risk within their jurisdiction as Jamaica identifies inherent vulnerabilities across different market sectors and applies appropriate mitigating controls on an ongoing basis.
“An important element of Jamaica’s improving situation is due to the work AML Analytics has undertaken.”