DH | Country’s ‘unacceptable’ progress on financial matters leads to sanctions

Sint Maarten has been sanctioned by the financial taskforce FATF for its “unacceptable” actions on the implementation of laws and regulations

POND ISLAND–Finance Minister Richard Gibson Sr. has returned from a recent conference of the Financial Action Task Force (FATF) in Trinidad and Tobago with some bad news.

The country has been sanctioned by the taskforce for its “unacceptable” actions on the implementation of laws and regulations. This situation has triggered the Taskforce to send a “high level” delegation to St. Maarten in September at the cost of the country.

Gibson Sr. said efforts are on the way to avoid the delegation’s visit by mobilizing with Parliament and government departments to comply with all regulations as required by the taskforce. If all efforts are successful, the visit will be called off.

Bron: Daily Herald

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