Dominica Declared a Major Money Laundering Jurisdiction

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The latest US International Narcotics Control Strategy Report (INCSR) released Tuesday has named Dominica, along with all other major Caribbean and Central American countries, a “major money laundering jurisdiction”.

The report describes narcotics and cybercrime as major sources of illicit funds. It cites instances of foreign nationals using ATMs in Dominica to steal bank account information from European tourists due to security deficiencies. The report also accuses Dominica of not properly vetting those seeking citizenship and granting citizenship to those who are flagged as a threat.

Other countries in the region listed as major money laundering jurisdictions include: Antigua and Barbuda, Aruba, The Bahamas, Barbados, Belize, British Virgin Islands, Cayman Islands, Colombia, Costa Rica, Cuba, Curacao, Dominica, Dominican Republic, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, St. Maarten, Suriname, Trinidad and Tobago, and Venezuela.

The only countries in this region not considered major money laundering jurisdictions are: US Virgin Islands, Puerto Rico, Martinique, Guadeloupe and French Guiana.

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