Financial Intelligence Unit (FIU) Barbados
Barbados' financial intelligence unit. It receives, analyses, and disseminates suspicious activity reports to law enforcement and competent authorities.
Americas · Country coverage
AML/CTF Compliance in Barbados
Barbados regulates AML/CTF through its Financial Intelligence Unit under the Money Laundering and Financing of Terrorism (Prevention and Control) Act. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for Barbados
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUFinancial Intelligence Unit (FIU) Barbados
FATF statusCFATF member
Primary legislationMoney Laundering and Financing of Terrorism (Prevention and Control) Act, 2011
Overview
AML/CTF compliance in Barbados.
Barbados regulates money laundering and terrorist financing through the Money Laundering and Financing of Terrorism (Prevention and Control) Act, supported by its Financial Intelligence Unit, which receives and analyses suspicious activity reports.
Regulated entities must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the FIU, alongside rules from the Central Bank of Barbados and the Financial Services Commission. Supervisors expect a designated compliance officer, sound internal controls, and staff training.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Money Laundering and Financing of Terrorism (Prevention and Control) Act
The core of Barbados' AML framework, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions and other regulated entities.
Financial Services Commission
The FSC supervises non-bank financial institutions for AML/CTF compliance, while the Central Bank of Barbados supervises licensed banks.
CFATF membership
Barbados is a member of the Caribbean Financial Action Task Force, a FATF-style regional body, and aligns its regime with the FATF 40 Recommendations through that membership.
Obligations
What regulated businesses must do.
- Apply customer due diligence and identity verification
- Identify beneficial owners of corporate customers
- Report suspicious transactions to the FIU
- Conduct ongoing monitoring of customer relationships
- Maintain internal controls and a compliance officer
- Maintain records and provide staff training
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in Barbados?
The Financial Intelligence Unit (FIU) Barbados receives and analyses suspicious activity reports, alongside the Central Bank of Barbados and the Financial Services Commission, which supervise banks and non-bank financial institutions respectively.
What is the main AML law in Barbados?
The Money Laundering and Financing of Terrorism (Prevention and Control) Act sets the customer due diligence, recordkeeping, and reporting obligations for regulated entities in Barbados.
Is Barbados a member of FATF?
Barbados is a member of CFATF, the FATF-style regional body for the Caribbean, and aligns its AML/CTF regime with the FATF 40 Recommendations through that membership.
How does MemberCheck support AML compliance in Barbados?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
Screen customers for Barbados risk with MemberCheck.
Book a walkthrough with our compliance team and screen a real case in the first session.