Establishment of Office for Strategic Action on Illicit Finance (OSAIF)

The CIG news release noted that OSAIF consolidates the nation’s strategic leadership, interagency coordination, and operational delivery in anti-money laundering, counter-terrorist financing, and counter-proliferation financing (AML/CFT/CPF). This move marks a strategic progression from policy development to demonstrable effectiveness—an essential benchmark under the FATF framework.

OSAIF’s remit includes oversight of the national coordination team preparing for the next Caribbean Financial Action Task Force (CFATF) evaluation in December 2027 (the 2027 CFATF Evaluation).

In addition to national risk assessments, policy leadership, and legislative coordination, OSAIF integrates the former Anti-Money Laundering Unit and other Ministry experts to deliver cohesive, measurable progress across all AML/CFT/CPF functions.

The Ministry has encouraged active engagement between financial service providers and OSAIF in the following areas:

• Risk Identification and Mitigation: participation in sector-specific outreach and providing feedback on typologies and risk factors
• Information Sharing:  engaging in consultations and data-sharing initiatives that contribute to national risk assessments and performance tracking
• Capacity Building: supporting employee training efforts aligned with FATF expectations
• Compliance Alignment: reviewing internal AML/CFT/CPF procedures to ensure alignment with national priorities and demonstrated effectiveness
• Stakeholder Engagement: attending OSAIF-led briefings, workshops and planning sessions