On Tuesday 21st February, 2023, the HM Governor’s Office and the Government of Anguilla launched Anguilla’s first National Risk Assessment (NRA) document at the House of Assembly.
It was presented by Anguilla’s Financial Services Commission, which is responsible for enhancing and maintaining Anguilla’s image on the international scene as a reputable financial centre.
The proceedings were moderated by a member of the Commission’s management team, Miss Ojeda Vanterpool. A prayer was offered by Legal Counsel, Ms. Feona Barns.
“I wish to highlight that Anguilla is committed to complying with international standards in its fight against money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction” the Commission’s Director, Ms. Tina Bryan stressed.
“The National Risk Assessment is an important exercise which involves significant time and effort from the various competent authorities as well as members of the private sector”, she said. “This exercise is not concluded, as it is a continuous one. The National Risk Assessment is certainly the positive step in the right direction.”
“Today, as we present the findings of the National Risk Assessment, we can be assured that the work is already begun in strengthening the Anti-Money Laundering and Counter-Terrorist Financing regime”, she noted.
“Today is a critical day for Anguilla, as the key findings of the National Risk Assessment are published”, Her Excellency the Governor, Dileeni Daniel-Selvaratnam remarked. “As Anguilla seeks to grow its financial services sector, the National Risk Assessment allows for a better understanding of the Anti-Money Laundering and Counter Financing of Terrorism risks that the jurisdiction faces. The National Risk Assessment allows a common understanding of the vulnerabilities and risks across the competent authorities, business sectors and the private sector.”
Every country is encouraged to assess their risks on a national level as the basis of identifying money laundering and terrorist financing risks, further examining threats and vulnerabilities at the national and sectoral levels.
The Honorable Premier, Dr. Ellis L. Webster, said: “Today is a proud moment for the island of Anguilla, as we are launching Anguilla’s first NRA. Anguilla has been focusing its efforts on ensuring compliance with the Financial Action Task Force Standards on Anti-Money Laundering and the combating of Terrorist Financing.”
“This underscores the Government’s continued commitment to strengthening Anguilla’s status as a well regulated Financial Services Centre, and preserving Anguilla’s reputation as such, while demonstrating the Government’s recognition of the importance of meeting its international obligations.” The Premier further said.
“Globally, the consequences associated with countries with a weak Anti-Money Laundering and Counter Financing of Terrorism system are apparent”, he noted. “These are countries which are non-cooperative in the fight against money laundering and the financing of terrorism.”
The Premier, who is also Minister of Finance, also indicated that as a result, these non-cooperative countries suffer reputational damage, globally, weakened financial service sectors, blacklisting and are victims of de-risking exercises.
Following the Premier’s address, Coordinator of the NRA, Ms Erica Edwards, provided an overview of the NRA process and presented the findings of the NRA exercise for 2014-2020.
The National Risk Assessment document launch can be viewed at: https://fb.watch/iQB1PtuRbA/
