The Caribbean Financial Action Task Force has published Dominica’s third enhanced follow-up report, upgrading the country on three FATF Recommendations after reviewing progress since its 2023 mutual evaluation. Recommendation 6 on targeted financial sanctions related to terrorism and terrorist financing was raised from partially compliant to compliant, Recommendation 22 on designated non-financial businesses and professions customer due diligence from partially compliant to compliant, and Recommendation 28 on regulation and supervision of designated non-financial businesses and professions from partially compliant to largely compliant. Dominica is now rated compliant or largely compliant on 36 of the 40 FATF Recommendations. The re-ratings reflect legislative and procedural changes made through 2025. For Recommendation 6, the report points to amendments to the Suppression of the Financing of Terrorism Act and updated central authority procedures that establish processes for handling foreign designation requests, freezing assets without delay, restricting dealings with property linked to designated persons and entities they own or control, and providing de-listing and unfreezing guidance. For Recommendation 22, amendments to the AML/CFT Code of Practice require designated non-financial businesses and professions to apply customer due diligence to existing customers on a risk basis, obtain source of wealth and source of funds information for politically exposed persons, and assess and mitigate money laundering and terrorist financing risks from new products, delivery mechanisms and technologies. For Recommendation 28, amendments introduced fit and proper requirements for persons who own, control, operate or hold key positions in these businesses, although a sanctions-related deficiency remains, leaving the rating at largely compliant. The report states that it assesses only technical compliance and does not evaluate progress on effectiveness. It also considers whether Dominica’s framework meets FATF Recommendations that have changed since the 2023 mutual evaluation.
Caribbean Financial Action Task Force (CFATF)2026-05-14
Caribbean Financial Action Task Force re-rates Dominica on three FATF recommendations, with 36 of 40 now compliant or largely compliant
The Caribbean Financial Action Task Force has upgraded Dominica on three FATF Recommendations in its third enhanced follow-up report. The changes lift Recommendation 6 and Recommendation 22 to compliant and Recommendation 28 to largely compliant, leaving Dominica rated compliant or largely compliant on 36 of 40 Recommendations. The review covers technical compliance only, not effectiveness.