The Turks & Caicos Financial Services Commission has outlined a broader national effort to show that the jurisdiction’s anti-money laundering, counter-terrorist financing and counter-proliferation financing framework is delivering measurable results ahead of the 2028 FATF Fifth-Round Mutual Evaluation. The push reflects the shift in the FATF’s fifth-round methodology toward assessing effectiveness under the Immediate Outcomes framework rather than focusing only on technical compliance. Priorities include stronger risk assessments, better data collection and analysis, and closer public-private sector cooperation. As part of that work, the Anti-Money Laundering Committee, working with the Caribbean Financial Action Task Force, held a two-day training programme on the revised FATF standards on 16 and 17 April 2026 for more than 80 senior officials and practitioners from supervisory authorities, regulators, law enforcement, and policy and intelligence agencies. The training focused on practical application of the standards, outcomes-based assessment, risk-based supervision, and how to evidence results. For the Commission, the effectiveness-focused approach means demonstrating how supervision produces tangible AML/CFT/CPF outcomes across regulated sectors, including through stronger inspections, thematic reviews, enforcement action, evidence-based supervisory findings, improved reporting and data analysis, and deeper coordination with domestic and international partners. The Anti-Money Laundering Committee and its partners will intensify targeted capacity-building, implementation measures, and coordinated oversight as preparation for the 2028 review continues.
Turks & Caicos Financial Services Commission 2026-04-23
Turks & Caicos Financial Services Commission intensifies AML effectiveness work ahead of 2028 FATF review
The Turks & Caicos Financial Services Commission outlined a jurisdiction-wide effort to demonstrate the effectiveness of its anti-money laundering, counter-terrorist financing and counter-proliferation financing framework ahead of the 2028 FATF Fifth-Round Mutual Evaluation, reflecting the shift to outcomes-based assessment under the Immediate Outcomes framework. The Anti-Money Laundering Committee and the Caribbean Financial Action Task Force delivered practical training on revised FATF standards to more than 80 senior officials and practitioners. The Commission will emphasise tangible supervisory outcomes, including stronger inspections, thematic reviews, enforcement, data-driven findings and enhanced coordination.