Funds Security
Real Money

FATF Public Statement – Paris, France, October 19, 2018

On the 19th day of October 2018, the Financial Action Task Force (FATF) issued a Public Statement on the Democratic People’s Republic of Korea (DPRK) and called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the ongoing and substantial money laundering and financing to terror (ML/TF) risks emanating from the DPRK.

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CFATF Public Statement – May 2018 Trinidad

On 31st May 2018, the Caribbean Financial Action Task Force (CFATF) issued a public statement which stated that Haiti had been removed from the CFATF – International Co-operation Review Group (ICRG) monitoring process. The jurisdiction was encouraged to continue to address its outstanding deficiencies in preparation for the 4th Round of Mutual Evaluations.

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ECCU Regulatory Oversight Committee Advisory on Fintech Operations

The Eastern Caribbean Currency Union (ECCU) Regulatory Oversight Committee (ROC) held its 20th Meeting on 3rd July 2018 in Basseterre, St. Kitts. The ROC comprises Regulators from each ECCU member territory, the Eastern Caribbean Central Bank (ECCB) and the Eastern Caribbean Securities Regulatory Commission (ECSRC).

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Bitcoin ATM Not Authorised by Regulators in ECCU

It has come to the attention of the Eastern Caribbean Central Bank (ECCB) and the Financial Services Regulatory Commission of St Kitts and Nevis (FSRC) that a Bitcoin ATM has been installed at a location in the Federation of St Kitts and Nevis. It is also our understanding that there are plans for the installation of similar machines in other locations in the Federation.

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ECCB Advisory on Fintech operations in the ECCU

The Eastern Caribbean Central Bank (ECCB) is aware of the emergence of several initiatives which compete directly with traditional financial services. These include but are not limited to: peer to peer lending, digital wallets, crowd funding ventures, crypto-assets and initial coin offerings (ICOs) in the Eastern Caribbean Currency Union (ECCU).

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