The National Anti-Money Laundering Oversight Committee (NAMLOC), in partnership with the World Bank, is today hosting a landmark Trade-Based Money Laundering (TBML) Risk Assessment Workshop. The workshop, which is being held at the Finance Administrative Centre, Pointe Seraphine from September 3rd–5th, also has the backing of the United Nations Office on Drugs and Crime (UNODC).
This high-level, three-day event will convene officials from the World Bank, UNODC and representatives from across Saint Lucia’s public and private sectors including trade, commerce, finance, law enforcement, border control, and regulatory bodies. The sessions are designed to foster collaboration, deepen understanding, and develop practical strategies to address threats and vulnerabilities related to trade-based financial crime.
The workshop serves as a critical platform to strengthen Saint Lucia’s National capacity to detect and combat TBML. Officials from the World Bank and UNODC will use a pilot TBML risk assessment tool developed by the World Bank to explore TBML typologies, risks and assess vulnerabilities.
Saint Lucia has been selected as the first country to test and apply this innovative TBML risk assessment tool, underscoring the island’s commitment to leading regional efforts in combating money laundering and terrorist financing. This pioneering role reflects the nation’s proactive stance in reinforcing financial integrity and ensuring compliance with international standards.
The outcomes of this workshop are expected to inform national policy, enhance interagency cooperation, and contribute to Saint Lucia’s ongoing efforts under its 2025 National Risk Assessment. NAMLOC and the Attorney General’s Chambers reaffirm their commitment to building resilience, strengthening institutions, and protecting Saint Lucia’s financial and trade systems from exploitation.
Head of NAMLOC and Permanent Secretary in the Attorney General’s Office Juliana Alfred says St. Lucia’s strategic location make trade-based focus all that more important. Alfred highlighted the money laundering threat to customs revenue, bank operations and national security. “We need to strengthen our defenses because if we don’t deal with financial crimes, it could undermine our AML {Anti Money Laundering} system. Caribbean Financial Task Force and the Financial Action Task Force are the watchdogs for regional financial crimes equipped with sanctions for failing countries which would consequently affect regional and international trade.
“Us doing this activity is very, very important because we are doing our national risk assessment and we are getting ready to be evaluated in 2028 by the international community in terms of our money laundering proliferation finance gains,” Alfred warns.
The World Bank identified St. Lucia to run this pilot project.