The Caribbean Financial Action Task Force (CFATF) held its Virtual Plenary and Working Group meetings during the period of 20 November – 12 December 2020 via ZOOM. These meetings were slated to be held in The Bahamas but due to COVID19 Pandemic and the related travel restrictions, they were held via the ZOOM Platform. In attendance at the Plenary Meetings and sessions were persons representing the 26 members of CFATF, the Financial Action Task Force (FATF), International Monetary Fund, United Nations Office on Drug and Crime, and Canada (representing the COSUNS).

The Plenary sessions culminated with the Honorable Carl Wilshire Bethel being installed as Chair of CFATF for the year 2020-2021 having served as Deputy Chair for the year 2019-2020.

The Bahamas takes up the mantle to Chair of CFATF once again having held the post of CFATF Chair in 2002-2003 and 2013-2014. AG, in assuming the Chair noted that the year 2020 has been a year of extreme challenges for all, but that CFATF will continue to move forward despite the hindrances. Note was of The Bahamas ability, in the face of unbelievable odds, to successfully host the onsite of the Joint Group of the Americas during November 10-11, 2020. Further, the excellent cooperation and collaboration from all The Bahamas’ public and private sector officials in making the visit a success was cited. AG also took the opportunity to thank the FATF and CFATF Secretariats and Members of the Joint Group for making the onsite visit possible.

AG Bethel, as the incoming Chair, advised that he expects that there will be more challenges during the coming year as there are no guarantees even with the hopeful signs of vaccines that the COVID19 pandemic will suddenly disappear. Further, that CFATF will remain resolute in its efforts to ensure that the organization continues advancing its 4^th Round Mutual Evaluations in a manner that results in high quality and consistency with FATF Mutual Evaluation Reports.

The CFATF Chair’s Work Programme for 2020/2021 have two primary objectives of which are: 

• To ensure that its Members achieve and maintain effective Anti-Money Laundering and Combatting the Financing of Terrorism and Proliferation Regimes (AML/CFT/CPF), through compliance with the FATF Recommendations, Interpretative Notes and Immediate Outcomes; and
• To contribute to the global AML/CFT Standards.