|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.