ST. LUCIA-St. Lucia reviews national risk assessment report ahead of fifth-round mutual evaluation.

CASTRIES, ST. Lucia, CMC – The St. Lucia government says it is strengthening the country’s national framework to combat money laundering, terrorist financing and proliferation financing, as officials review the findings of the 2025 National Risk Assessment.

It said that the exercise is being used to identify vulnerabilities, address deficiencies and prepare the country for the fifth-round mutual evaluation by the Caribbean Financial Action Task Force (CFATF).

The National Anti-Money Laundering Oversight Committee (NAMLOC) brought together stakeholders to examine the findings of the 2025 National Risk Assessment, which provides an evidence-based examination of the country’s exposure to money laundering, terrorist financing and proliferation financing risks.

The assessment identified key vulnerabilities requiring further action, while highlighting opportunities to strengthen national safeguards and improve the country’s ability to respond effectively to financial crime risks.

NAMLOC chair, Juliana Alfred, said the report provides an important foundation for evidence-based decision-making and the development of effective action plans.

“The report will highlight, of course, the risks that we face currently, the vulnerabilities that we have to address, and the opportunities that exist for us to build stronger safeguards. By us identifying our challenges, it allows us now to be able to make decisive decisions, set effective action plans, which will be guided based on the evidence that we have collected.”

Alfred said that the National Risk Assessment represents the culmination of extensive work involving government agencies, private-sector stakeholders, NAMLOC and other stakeholders.

“We want you to embrace this report as a tool. A tool for action. A tool that will help us prepare for the fifth round, 2027–2028. It provides us an opportunity to work on the deficiencies that we have highlighted in the report, and to build on the work that the country has undertaken over the last few years.”

St. Lucia has also undertaken targeted initiatives, including a trade-based money laundering risk assessment workshop, aimed at deepening the understanding of emerging financial crime risks and strengthening measures to mitigate them.

Attorney General Leslie Mondesir said the latest assessment must provide a credible, accurate and evidence-based picture of St.Lucia’s risk environment.

“Our objective is not to secure the most favorable ratings, but to ensure that the conclusions are accurate, evidence-based, and truly reflective of our risk environment. Where the evidence supports a conclusion, it must be clearly articulated. Where gaps, inconsistencies, or uncertainties exist, they must be identified and addressed.”

Mondesir said the assessment will help guide policy decisions, support the effective allocation of resources and strengthen national measures to protect the integrity of the country’s financial system.

He noted that the exercise is particularly significant, as it demonstrates the country’s ability to understand its risks and to demonstrate that those risks are being effectively mitigated.

“The credibility of the final report will depend on the quality of the contributions made by the agencies and sectors represented here today. This exercise is particularly significant as we prepare for St. Lucia’s fifth round mutual evaluation.

“The FATF methodology emphasizes not only the existence of laws and institutional frameworks, but also the country’s ability to understand its risks and demonstrate that those risks are being effectively mitigated.”

The findings of the National Risk Assessment are expected to support the development of targeted action plans, strengthen identified areas of vulnerability and help agencies address outstanding deficiencies ahead of the 2027–2028 evaluation period.