CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Caribbean Sharpens Response To Financial Crime

Caribbean Sharpens Response To Financial Crime

by Glen Shapiro,, New York

19 January 2011

In an effort to sharpen the regional response to transnational organized crime, the Caribbean Community Implementation Agency for Crime and Security (CARICOM IMPACS) and the Caribbean Financial Action Task Force (CFATF) have signed an agreement, laying down a framework for combating financial crimes including money laundering.

In a joint communication on January 15, the agencies announced the signing of a bilateral Memorandum of Understanding (MoU) setting forth plans to cooperate on tackling financial crimes, including money laundering, and the proceeds of the narcotics and arms trades that can fund terrorism-related activity.

Welcoming the pact, Lynne Anne Williams, the Executive Director of CARICOM IMPACS, said: “This MoU signifies a clear recognition by the Caribbean Community of the danger that unchecked financial crime poses to our economic and political is indeed, a concrete step towards the urgent implementation of measures which are critical not only to CARICOM states, but to those of the wider Caribbean region.”

The terms of the agreement were reached at the Tenth Meeting of the Council for National Security and Law Enforcement in June 2010.

AS a result of the MoU, IMPACS and CFATF will undertake a three-year programme to train investigators to tackle the prevalence of money laundering and the financing of terrorism. This will mainly be achieved by the seizure of illegitimate funds.

TAGS: money-laundering | Haiti | Suriname | tax | investment | Bahamas | Montserrat | Saint Lucia | fiscal policy | law | international financial centres (IFC) | Belize | Bermuda | Cayman Islands | Grenada | Jamaica | Trinidad and Tobago | Turks and Caicos Islands | Virgin Islands | offshore | agreements | memorandum of understanding (MOU) | Anguilla | Antigua and Barbuda | Dominica | Guyana | Barbados | British Virgin Islands

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »