BARBADOS HAS TOLD a group of external assessors that there is little to no chance the island is being used to funnel money to terrorists.
But the legal and financial experts fear the island “has not demonstrated it has an effective system to combat terrorism financing”. They therefore want the authorities here to take immediate corrective steps.
The Caribbean Financial Action Task Force raised the concerns in the latest Mutual Evaluation Report on Barbados’ anti-money laundering and counterterrorist financing measures. The report was released this month.
It has recommended the following actions:
• The police Special Branch Unit should establish a mandate and policy guidance as it relates to its operations.
• Barbados should undertake to profile terrorism financing and establish a national strategy regarding terrorism financing.
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