Nevis Premier To Speak About Money Laundering

Charlestown, Nevis
February 04, 2008

Premier of Nevis and Minister of Finance, Hon. Joseph Parry will make opening remarks at the 2008 Anti- Money Laundering/Countering Financing of Terrorism (AMF/CFT) Seminar, to be held on Tuesday, February 5th 2008, at the magnificent Mount Nevis Hotel in Newcastle.

This year the theme will be “Meeting International Compliance Standards- A challenge for all.”

Deputy Director of the Anti-Money Laundering Unit at the Jersey Financial Services Commission, Mr. Nick Troy will be the keynote presenter at the Seminar.

The presentation by Mr. Troy will include a number of interesting case studies and valuable insight for Nevis as the Nevis Financial Services Department prepares for the upcoming Caribbean Financial Action Task Force (CFATF) Mutual Evaluation  of the Federation.

The evaluation of the St.Kitts – Nevis Financial Services will be conducted in September 2008 by CFATF.

“For the last three years we have been having these seminars annually. It is essential to keep the industry sensitized and informed to the various issues and developments, as it relates to AMF/CFT. The mutual evaluation assessment is done periodically of all countries to see that all its AMF/CFT structures are effective.  The last evaluation for St. Kitts/Nevis was done in 2003,” Regulator at the Nevis Financial Services, Ms. Patricia Reid ““ Waugh said.

Among the topics to be discussed during the seminar are: Meeting International Compliance Standards, Identifying and reporting suspicious business transactions and Raising Standards – The Challenge for the Federation.

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