We have a new Financial Institutions Act; we are close to introducing new legislation for the insurance and the credit union sectors and we have brought in money remitters under the central bank’s purview. In the last few months, we have brought our AML/CFT regime closer in line with international requirements.
Our immediate challenge is to ensure that there is effective enforcement of the existing measures and to broaden the regulatory perimeter for AML/CFT to non-financial businesses and professions such as lawyers, accountants and real estate agencies.