Dominica’s Financial Intelligence Unit (FIU) has marked the 2024-2025 period as exceptionally significant in its ongoing battle against financial crimes, according to Director McKelson Ferrol. Speaking at a recent Ministry of National Security and Legal Affairs press conference, Ferrol detailed substantial operational advancements including the establishment of a specialized subunit and enhanced staffing capabilities.
The Unit’s analytical department has demonstrated remarkable efficiency in processing suspicious activity reports while developing both operational and strategic analyses to support key authorities including the Commonwealth of Dominica Police Force, Financial Services Unit, Eastern Caribbean Central Bank, and Customs Division. FIU personnel have additionally strengthened their expertise through participation in regional and international training programs, seminars, and conferences, serving in capacities ranging from assessors to trainers.
Critical collaboration with the Director of Public Prosecution, the Attorney General’s Chambers, and multiple regional and international agencies has yielded successful investigations and prosecutions across various financial crime categories, including money laundering, drug trafficking, and illegal firearms trade.
In a strategic move toward regulatory compliance, Dominica will present its CFATF 4th Round Mutual Evaluation Third Follow-Up Report at the Caribbean Financial Action Task Force meeting in Trinidad and Tobago in May 2026. This follows the October 2024 presentation and November 2025 gazetting of three pivotal legislative measures: the Suppression of Financing of Terrorism Act, Money-Laundering Prevention Act, and Anti-Money-Laundering and Suppression of Terrorism Finance Amendment, Code of Practice 2025.
The nation will seek re-rating for three previously partially compliant recommendations and one non-compliant recommendation. Director Ferrol expressed confidence in obtaining favorable outcomes during the May 2026 CFATF Plenary session.
Notably, under the provisions of the Money Laundering Prevention Act, Minister of National Security and Legal Affairs Rayburn Blackmoore facilitated a substantial disbursement of $2,042,096.42 from the asset recovery fund to support critical institutions including the Roseau District Court, FIU, Supreme Court, Customs Division, and Regional Security System.