Issues
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Background The CFATF was created as a result of two regional meetings -- the first in Aruba in 1990 and the second in Jamaica 1992, with the latter being the inaugural meeting of the CFATF. The current CFATF members are:
Objectives The CFATF's key aim is to "achieve effective implementation of and compliance with its recommendations to prevent and control money laundering and to combat the financing of terrorism." The 1992 Kingston Declaration outlines in further detail the objectives of the CFATF. The ministers endorsed and affirmed their respective governments' commitment to implement the FATF Recommendations, the Aruba Recommendations, the OAS Model Regulations and the 1988 U.N. Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances. The Aruba Recommendations are ones the CFATF has developed. The 19 Recommendations constitute a common approach to money laundering and the proceeds of crime. These recommendations are specific to the region and are complementary to the Forty Recommendations created by the FATF.
Organisational Structure The Secretariat was mandated by the Kingston Declaration. Its role is to monitor compliance with and encourage progress in implementing the documents endorsed in the Declaration. The Secretariat employs a variety of methods in order to fulfil its role, including:
In October 1996, the member governments ratified a Memorandum of Understanding which expands further on the structure of the FATF. In particular, it establishes and the Council of Ministers (the Council) and the Plenary of Senior Officials (the Plenary). The Council meets annually and considers and adopts the agenda and approves the annual Work Program. The Plenary is held twice a year and each member state is represented by one senior official. The representatives prepare the agenda and consider the draft Work Program for the following year. They also make recommendations on policy matters. Since 1996, the CFATF have been conducting "Typologies Exercises" related to money laundering to increase awareness of the commonly used methods in the region. National Committees also play a role in the CFATF and the Memorandum of Understanding requires members to establish "standing anti-money laundering committees" or similar entities composed of individuals from legal, judicial and financial disciplines.
External Relations Canada, the Netherlands, France, the UK, Spain, Mexico and the U.S are "Co-operating and Supporting Nations" and "are committed to making such contributions to the work and/or resources of the CFATF." In addition, the Secretariat also works closely with "the diplomatic representatives of countries with interest in the region, in particular Canada, France, Japan, the Netherlands, the United Kingdom, and the United States." Relations are also maintained with several international organisations:
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