The principal function of the AML/CTF Commission is to implement the Anti-Money Laundering policies of the Financial Action Task Force (FATF) which is an intergovernmental body/organization.
To Develop an Effective National System for Combating Money Laundering and Terrorism Financing.
Ensuring a Robust Financial Infrastructure to Combat against Money Laundering and Terrorism Financing.
Establishment of the Commission
The AML/CFT Commission was established pursuant to section 63 of the Proceeds of Crime Act No. 12 of 2012.
Purpose of the Commission:
To advise the Minister in relation to the detection and prevention of money laundering in Grenada.
Issuing amendments to the Proceeds of Crime Act (POCA) Guidelines from time to time.
Advise the Minister as to the participation of Grenada in the international efforts against money laundering and terrorist financing.
Examining Financial Institution that is regulated under any other enactment.
Regulating anti-money laundering activities.
Providing education and training.