Businesses and members of the public will soon have the opportunity to learn more about anti-money laundering when the Compliance Unit of the Anti-Money Laundering Authority launches its website on Wednesday, November 22.
Chief Compliance Officer, Shari Squires, said the website will give stakeholders and the public greater insight into the Compliance Unit’s operations.
“It will provide easy access to information and ready access to government services. The launching of the website is another step which indicates the island’s commitment to strengthening the level of effectiveness of Barbados’ Anti-Money Laundering and Countering the Financing of Terrorism regime,” Mrs. Squires stressed.
Persons accessing the website will be able to view training materials and video recordings, including a step-by-step guide on the filing of a Suspicious Transaction Report (STR); and international sanctions lists which will allow the Designated Non-Financial Business entities or Professionals (DNFBPs) to screen potential and existing clients to ensure that criminals do not penetrate financial institutions.
Additionally, they will have access to questionnaires, which the Unit uses to determine whether an entity can be classified as a DNFBP; a direct link to the Financial Intelligence Unit for the submission of STRs; and information on upcoming training sessions.
The Compliance Unit of the Anti-Money Laundering Authority supervises the Designated Non-Financial Business entities or Professionals as outlined in the second schedule of the Money Laundering and Financing of Terrorism (Prevention and Control) Act.