Col Edward Croft

Cabinet Reviews National Preparedness for 2027 CFATF Mutual Evaluation

Director of the ONDCP Colonel Edward Croft made a presentation to Cabinet on Antigua and Barbuda’s state of preparedness for the 2027 Caribbean Financial Action Task Force (CFATF) Mutual Evaluation, outlining the progress achieved to date, emerging national risks and the priority actions required to ensure the country is adequately prepared for the assessment.

The presentation, submitted through the National Oversight Committee on Financial Action (NOCFA), focused on the country’s preparations for the Mutual Evaluation scheduled for September 2027. The assessment will examine Antigua and Barbuda’s compliance with the 40 Financial Action Task Force (FATF) Recommendations and the effectiveness of its framework for combating money laundering, terrorist financing and proliferation financing.

Cabinet was advised that the preparatory process includes the completion of a Technical Compliance Questionnaire, an assessment of the country’s effectiveness in addressing financial crime, and the development of a National Risk Assessment (NRA). The submission identified February 27, 2027, as the deadline for the Technical Compliance Questionnaire, with effectiveness submissions anticipated in May 2027.

Colonel Croft outlined the work being undertaken by NOCFA and the relevant working groups, while identifying capacity constraints, gaps in information gathering and the need for stronger coordination among ministries, departments, agencies and competent authorities.

Cabinet was advised that the successful completion of the national readiness programme will require timely and accurate submissions from all institutions involved in the Mutual Evaluation process. These submissions must be supported by verifiable statistics, case information, policies, records and other evidence demonstrating the country’s compliance and effectiveness.

The presentation also identified the need for additional technical and administrative resources, specialist training, improved financial intelligence capabilities and legislative support to address outstanding requirements.

Following the presentation, Cabinet requested that each ministry concerned be identified and required to submit its specific requirements for meeting the obligations associated with the 2027 CFATF Mutual Evaluation. These should include the information, documentation, personnel, technical support, legislative measures and other resources required by the respective ministries and their associated departments and agencies.

Cabinet underscored the importance of ensuring that each ministry understands its responsibilities and is able to provide the necessary evidence and institutional support within the prescribed timelines.

The presentation also proposed the establishment of a time-bound National Readiness Committee under the NOCFA coordination framework, with responsibility for strengthening inter-agency participation, addressing delays and submitting a consolidated national readiness assessment and costed corrective-action plan to Cabinet.

Cabinet recognised that the 2027 Mutual Evaluation is a significant national undertaking requiring the coordinated participation of the entire public sector. The Government is committed to ensuring that Antigua and Barbuda is adequately prepared, with the necessary institutional capacity, technical compliance and supporting evidence to demonstrate the effectiveness of its anti-money laundering, counter-terrorist financing and counter-proliferation financing framework.

This article was originally published by Antigua News Room. Read the original article here: Cabinet Reviews Antigua and Barbuda’s Readiness for 2027 Review of Efforts to Fight Financial Crime.