The Financial Intelligence Authority (the FIA) was established in October 2003 pursuant to the provisions of the Financial Intelligence Authority Act 2002 and continued its operations under the Money Laundering (Prevention) Act, Chapter 12.20 of the 2013 Revised Laws of Saint Lucia (the MLPA).
The FIA is responsible for receiving, analysing, obtaining, investigating and disseminating information which relate to the proceeds of criminal conduct and in particular information derived from suspicious transaction reports (STRs). In addition to the MLPA, the FIA is also guided by the following legislations, which assist in its mandate of detecting, preventing and prosecuting money laundering and other serious crimes as well as confiscating the proceeds of crime:
The FIA is a hybrid type financial intelligence unit having regulatory, supervisory and investigative powers, which allows the unit to fulfill its functions. The core functions of the unit are set out in Part 2, Section 5 of the MLPA and include:
In relation to the detection and prevention of money laundering, terrorism and terrorist financing in Saint Lucia of:
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…