Not-for-profit organizations will be subject to Jamaica’s FAT-F regulatory regime, says Finance Minister

Finance Minister Dr Nigel Clarke says work is underway to further strengthen national anti-money laundering and counter-terrorism financing regimes.

This comes after the country was removed from the Grey List by the Financial Action Task Force (FAT-F).

The FAT-F release said Jamaica has improved the effectiveness of its AML/CFT regime to meet its commitments in the 13-point Strategic Deficiencies Action Plan.

Dr. Clarke, who will appear on Radio Jamaica on Friday Beyond the headlinesstated that non-profit organizations will need to be brought within a regulatory framework.

He added that the government will be filling the legislative gap to deal with virtual assets such as cryptocurrency.