19 Caribbean Nations Named As Money Laundering Jurisdictions

Money_Laundering_Caribbean
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News Americas, NEW YORK, NY, Fri. April 5, 2019: While Caribbean businesses and nationals struggle daily to complete cross border global money transfers to pay for business and individual expenses overseas, the US has again named several Caribbean nations as money laundering destinations.

Nineteen Caribbean jurisdictions have been named in the US State Department’s March 2018 International Narcotics Control Strategy Report on money Laundering. They are:

Antigua and Barbuda

Aruba

The Bahamas Barbados

Belize

The British Virgin Islands

The Cayman Islands

Cuba

Curacao

Dominica

The Dominican Republic

Guyana

Haiti

Jamaica

Sint Maarten,

Saint Kitts and Nevis

Saint Lucia

Saint Vincent and the Grenadines

Suriname

Trinidad and Tobago

Except for Grenada, the list remains the same from the 2017 report.

The US also slammed the economic citizenship programs of many countries, including in the Caribbean, as being vulnerable to money laundering activity, adding that “U.S. law enforcement is increasingly concerned about the expansion of these programs due to the visa-free travel and ability to open bank accounts accorded to these individuals.”