The Financial Intelligence Authority (FIA) remains committed to its mandate in the fight against money laundering, terrorism financing and other financial crimes.
For too many years financial intelligence has been both undervalued and underfunded. Today with the significant progress and achievements made by the Authority within the last few years, particularly in the area of law enforcement, the usefulness and potential of financial intelligence as a tool in the detection and prevention of money laundering is being recognized by our strategic partners in both the public and private sectors.
A continued priority of the FIA in combatting financial crime has been to promote and encourage enhanced inter agency corporation with other law enforcement bodies both locally and internationally. Interagency corporation along with specialized training and strategic legislative reform has resulted in a more effective investigation process.
It should be noted that deterrence by way of prosecution and possible conviction is the only way to ensure that money laundering can be effectively controlled. Such action will also assist in serving to enhance the public’s perception of the integrity and efficiency of the Justice system in Saint Lucia.
As part of its regulatory function the FIA continues through awareness training to sensitize financial institutions and other business activities on the perils of money laundering and terrorism financing in order to assist in maintaining the integrity of Saint Lucia’s financial system and to ensure compliance with the 40 Recommendations of the Financial Action Task Force.
The work of the FIA remains of vital importance to the development and sustainability of the country’s anti-money laundering national framework and the Authority remains committed to collaborating with both the financial sector and law enforcement in the global fight against money laundering and terrorism financing.
The enactment of the Registration of Supervised Entities Act No. 12 of 2023 requires specified persons engaged in Other Business Activities to REGISTER with the FIA.
The Caribbean Financial Action Task Force (CFATF) is a Financial Action Task Force (FATF) Styled Regional Body (FSRB) with a membership of twenty-five (25) Caribbean and South…