Newly Elected President of the Bankers Association Nigel Baptiste says the Government has assured him that significant progress is being made toward ensuring that the country meets recommendations put forward by the Financial Action Task Force.
The FATF is an intergovernmental organization that develops policies to combat money laundering and terrorism financing.
BATT had previously warned that the country is on a grey listing and under FATF scrutiny.
The Attorney General had responded afterwards saying there was no grey list and that we were simply on an enhanced follow-up list.
Mr. Baptiste says however that the BATT has since met with the Attorney General who assured them that things are being put in place to clean up the country’s standing with the FATF.
Mr. Baptiste adds that there is confidence that the measures put in place will work.