Deputy Executive Director of the Caribbean Financial Action Task Force (CFATF), Wendell Lucas, said the training provided local authorities with updated guidance on the revised international standards ahead of Saint Lucia’s fifth round mutual evaluation.
“The fifth round is based on effectiveness, so that apart from having all the laws and policies and enforceable means, this fifth round adjudges your effective implementation that you’re actually doing the work. And so, the CFATF undertakes to work with all our member countries to ensure that they have a successful fifth round mutual evaluation.”
Against the backdrop of escalating geopolitical tensions and conflicts in the Middle East, the workshop also addressed emerging global threats, including terrorism financing, and underscored the importance of maintaining robust systems to detect, deter, and prevent financial crimes.
“While we in the Caribbean might be a bit sheltered, we are still exposed because we are a subsystem of the wider society. So yes, the standards have taken these things into consideration and based on the assessment that is going to be taking place in the fifth round, there will be aspects of that being assessed by member states.”
Juliana Alfred, Permanent Secretary in the Attorney General’s Chambers and Chairperson of the National Anti-Money Laundering Oversight Committee (NAMLOC), emphasized that the fifth round evaluation will place a strong focus on effectiveness, examining not only the country’s legal framework but also how effectively those measures are implemented in practice.
“Saint Lucia will be assessed in 2028 and all of us need to be aware of what the changes are and what it means for us. In the fifth round, the focus is going to be on effectiveness, not just about our legislative framework, but how effective we are as a country in terms of meeting these recommendations. So the work of the police in terms of the investigations will come under focus. The work of the Judiciary and prosecution will come under focus. How many cases have we been able to successfully execute in the court systems? What, where, and what exists in terms of beneficial ownership information is that information readily available? So we are looking in the fifth round to ensure that these agencies understand what it means to have an effective system and what they need to do to prove that effectiveness.”
According to Alfred, Saint Lucia’s National Risk Assessment for 2025–2026will incorporate new and emerging threats that may affect the country’s financial system. She emphasized that strong cooperation among all relevant stakeholders and competent authorities will be critical to ensuring Saint Lucia’s success in meeting international standards.
“So the cooperation has been good. Having them here today in such large numbers suggests that they are still eager to be part of this process, and so we are happy about that because that is going to make a big difference in terms of how we are rated for effectiveness in the fifth round.”
The training forms part of ongoing efforts by the Government of Saint Lucia and its regional partners to strengthen compliance with international standards, enhance inter-agency coordination, and safeguard the integrity of the country’s financial sector.