Montserrat — Overseas Territory of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector—-Review of Financial Sector Regulation and Supervision

November 26, 2003

Preview Citation

Format: Chicago

Montserrat — Overseas Territory of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector—-Review of Financial Sector Regulation and Supervision, (USA: International Monetary Fund, 2003) accessed November 21, 2024

Summary

This paper assesses the observance of financial sector supervisory standards of Montserrat in the context of a Module 2 offshore financial center assessment. It reviews the extent to which the regulatory and supervisory arrangements for the offshore financial sector complied with internationally accepted standards in the offshore banking sector. The assessment also includes an evaluation of measures related to antimoney laundering and combating the financing of terrorism (AML/CFT) based on the AML/CFT methodology, which was endorsed by the Financial Action Task Force (FATF).

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Financial services, Money laundering, Offshore financial centers, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Anti-money laundering regime, Bank management contact, Banking sector, Banks in Montserrat, Caribbean, Central America, CFT supervision, CR, Customer identification, Due diligence, FSC plan, ISCR, Law enforcement authority, Licensing procedure, Money laundering, Offshore bank, Offshore financial centers, South America, Terrorism financing

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/371
Stock No:

1MSREA0012003
ISBN:

9781451827675
ISSN:

1934-7685

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