Belize has been cited by the Caribbean Financial Task Force for deficiencies in meeting the international standards of fighting money laundering and terrorism. According to News America, Belize and Guyana have been cited by the task force. The report further states that the CFTF has said that Belize must implement all outstanding issues including addressing its customer due diligence requirements and prohibiting dealings with shell banks; while Guyana is being urged to address the strategic deficiencies that exist in its national architecture to combat money laundering and the financing of terrorism. The Caribbean Financial Task force is comprised of twenty-nine jurisdictions of the Caribbean Basin Region, which have agreed to implement the international standards for Anti-money Laundering and Combating the Financing of Terrorism, Financial Action Task Force Recommendations in order to protect the international financial system from money laundering and financing of terrorism risks and to encourage greater compliance with the AML/CFT standards. Both countries are being urged to implement counter measures to protect their financial systems from the ongoing money laundering and terrorist financing risks.

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