GEORGETOWN, Guyana (CMC) — Over 150 participants from 26 member countries are expected here for the Caribbean Financial Action Task Force (CFATF) conference from November 12 to 16.

CFATF is an organisation of countries within the Caribbean that have agreed to implement common counter-measures against money laundering and terrorism financing.

The conference is being held as Guyana has made significant progress in improving its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime.

In November 2016, the CFATF Plenary agreed that Guyana be removed from the CFATF /International Cooperation Review Group (ICRG) process.

This means that the country is no longer subject to monitoring by CFATF/ICRG, as the country has been removed from the backlisted status.

Guyana was “blacklisted” by the CFATF in 2013 after it failed to make significant progress in implementing required legislative reforms which would have aided in the international combat against money laundering and financing of terrorism.