U.S. NAMES CARIBBEAN AMONG MONEY LAUNDERERS

Written by on March 27, 2017

The U.S. has named 21 of 25 Caribbean nations among its 2016 global list of Major Money Laundering Countries.

Last week, the U.S. State Department released the list in its 2017 International Narcotics Control Strategy Report on Money Laundering and Financial Crimes.

Most – such as the Bahamas, Barbados, Grenada, Jamaica, St. Kitts & Nevis, St. Vincent & The Grenadines, and Trinidad & Tobago, were listed as major drug trafficking points, while others made the list for political corruption, organized crime, financial fraud and for being tax havens.

The list includes all 3 Dutch Caribbean countries Curacao, Aruba and St. Maarten, and Suriname- which were all named as a transshipment points for drugs coming from South America headed to the U.S., Europe, and Africa.

Antigua & Barbuda and Dominica were named because there Citizenship By Investment Programs are “among the most lax in the world.”

Belize and the Cayman Islands are said to be extremely “vulnerable to securities fraud and conventional structuring schemes.

Guyana made the list not only for drug trafficking, tax evasion, and political corruption, but also human trafficking, and illegal natural resource extraction.

Haiti was also listed for government corruption and embezzlement, smuggling, counterfeiting, and kidnappings for ransom.

The report also called St. Maarten’s government ‘Weak’ and said money laundering occurs through business investments and international tax shelters.


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