Montserrat Avoids FATF Grey/Black Lists

Montserrat has successfully avoided placement on the Financial Action Task Force (FATF) grey/black lists.

This follows the island exceptional performance at the Fourth Round Mutual Evaluation of FATF Anti-Money Laundering, Counter Financing of Terrorism, and Countering Proliferation Financing (AML/CFT/CPF) framework.

Conducted by the Caribbean Financial Action Task Force (CFATF), the assessment highlighted Montserrat’s strong commitment to international compliance standards.

The jurisdiction’s Mutual Evaluation Report (MER), discussed and approved at the CFATF Plenary in Jamaica in December 2024, underscored significant progress in technical compliance and effectiveness.

Montserrat’s robust performance included 18 Fully Compliant and 16 Largely Compliant ratings across 40 FATF Recommendations, alongside commendable results in effectiveness benchmarks.

Despite resource constraints as the smallest CFATF member in terms of population and GDP, Montserrat demonstrated its ability to adopt and enforce rigorous AML/CFT/CPF measures effectively.

The MER assessed two critical areas: technical compliance, which evaluated the adequacy of Montserrat’s legal, regulatory, and institutional frameworks; and effectiveness, which measured the practical implementation of these frameworks using 11 Immediate Outcomes (IOs).

While the island is not subjected to increased monitoring, it must work to address the deficiencies identified in the report; progress on which would be monitored by the CFATF.

The accomplishment reaffirms Montserrat’s position as a trustworthy and compliant jurisdiction, reinforcing confidence among international stakeholders, partners, and investors.

Attorney General Sheree Jemmotte-Rodney, chair of Montserrat’s National Anti-Money Laundering and Countering Terrorist Financing Committee (NAMLAC), credited the collective efforts of government entities and private sector stakeholders for this success.

Key contributors included the Members of Cabinet, the Attorney General’s Chambers, the Governor’s Office the Ministry of Finance, the Financial Services Commission, and the Royal Montserrat Police Service, among others.