Grenada avoid blacklist

The government of Grenada is moving to establish money-laundering counter-measures in an effort to avoid being blacklisted a second time by the Paris-based Financial Action Task Force, (FATF).



The country is preparing for a crucial evaluation review that would help determine its financial status in the international community.



The review, to be carried out from October 20 to 31, is being spearheaded by the Caribbean Financial Action Task Force (CFATF).



Representatives of financial institutions including banks and insurance companies have been attending a series of workshops on ways to combat money laundering and financial crimes.



The sessions have been focusing on how companies can comply with the 40 recommendations and nine special recommendations of the FATF.



In 2001, Grenada was among a number of countries blacklisted by the FATF, for not cooperating in the fight against money laundering.