The US Treasury Department issued a warning to financial institutions to be careful in dealing with Antigua and Barbuda. There have been a number of offshore banking scams in Antigua, and the US believes that Antiguan officials have not always been as helpful as they could have been during investigations. However, Antiguan Prime Minister insisted in a letter to the US Treasury Department that Antigua would play its full part in combating financial crime; a British Foreign Office consultant was advising the island on the matter. This is interesting since pressure by the FCO on its Dependent Territories in the Caribbean to limit their secrecy laws may have helped to create opportunities for other IOFCs in the region including Antigua.
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