US Nacrotics Control Strategy Report on Antigua
By Staff
According to US State Department Narcotics Control Strategy Report 2008 Antigua's Financial System lacks a unified regulatory structure and uniform supervisory practises for its domestic and banking sectors.

Despite comprehensive financial services and igaming law, 'Antigua & Barbuda has yet to prosecute a money laundering case and there are few arrests or prsosecutions. The Government of Antigua & Barbuda should conduct more thorugh investigations that could lead to a higher number of arrests,prosecutions and convictions,' the report stressed.

'The Government should implement and enforce all provisions of it anti-money laundering legislation, including the supervision of its offshore sector and gaming industry,' the report continued.

Only Haiti and Antigua & Barbuda were named as major money laundering centres in the Caribean.

According to local reports the four most senior Police officers were last week replaced with Canadian counterparts on a two year secondment. Canadian Gary Nelson was sworn in as the new Police Commissioner of Antigua and Barbuda, a few hours after Delano Christopher took vacation leave.

Antigua & Barbuda has long been identified by the Office of National Drug Control & Money Laundering Policy as a major hub in the trans-shipment of narcotics.

In 2007 Antigua added the expropriation of US & UK private property, for which it has not paid compensation, to it long list of international scanadals.

More information-http://www.state.gov/p/inl/rls/nrcrpt/2008/vol2/html/100807.htm

 
 
 
 
 
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