Antigua and Barbuda takes over CFATF chairmanship from Barbados

By Barbados Today,

Director of the Office of National Drug and Money Laundering Control Policy (ONDCP) in Antigua, Lieutenant Colonel Edward Croft, on Sunday assumed the position of chairman of the Caribbean Financial Action Task Force (CFATF).

In this capacity, Croft represents the 25 member countries of the CFATF.

Croft takes over from outgoing Chairman, Dale Marshall, Attorney General and Minister of Legal Affairs of Barbados.

This is the second time that Antigua and Barbuda has held the position of Chairman of the CFATF.

A statement on Sunday said Antigua and Barbuda looks forward to leading the organisation in further developing the level of compliance by all members with the FATF recommendations on money laundering, terrorist financing and proliferation financing.

In his remarks, the new chairman articulated the four goals he intends to pursue – continued enhancement of the CFATF’s Mutual Evaluation Programme, including the follow-up process; financial strengthening and implementing measures that strengthen the CFATF membership participation; ensuring continued good governance of the operations of the CFATF; and advocacy regarding members’ compliance with virtual asset and virtual asset service providers; issues of de-risking, European Commission listing of Members and issues of common interest.

Antigua and Barbuda will hold the position of chairman for the 2019-2020 period and preside over the organisation’s May and November 2020 plenaries.