Anguilla

New Documents

The Anguilla Financial Services Commission launched a public consultation on its draft Trust and Corporate Services Providers Bill.

The Anguilla Financial Services Commission announced the launch of its Innovation Office, an office dedicated to helping financial technology firms in developing emerging technologies and in adhering to regulations.

News

Enforcement Actions

0 Items Found


Important Facts

  • The U.S. State Department labels Anguilla as a monitored jurisdiction. There are few offenses committed on the island by the local populace that generate substantial profits from crime. Domestic money laundering offenses generally involve fraud, public corruption and theft. The economy depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Increased activity in the tourism industry has spurred the growth of the construction sector. The financial sector is small in comparison to other jurisdictions in the Caribbean, but the ability to register companies online and the use of bearer shares make Anguilla vulnerable to money laundering. The biggest perceived threat of money laundering in the coming years will continue to come from abuses of the offshore industry in relation to mutual funds, trusts, and international business companies. Anguilla has seven licensed domestic and offshore banks, two money services businesses, and over 275 captive insurance companies.
  • KYC Covered Entities: Domestic and offshore banks, money transfer agents and money service businesses, insurance companies, mutual funds and fund intermediaries, company managers and service providers, trusts, securities brokers and dealers, dealers in high-value goods and precious metals and stones, lawyers, accountants, notaries, real estate agents, and friendly societies
  • STR Covered Entities:  Domestic and offshore banks, money transfer agents and money service businesses, insurance companies, mutual funds and fund intermediaries, company managers and service providers, trusts, securities brokers and dealers, dealers in high-value goods and precious metals and stones, lawyers, accountants, notaries, real estate agents, and friendly societies
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 2 (2015); Convictions: 0 (2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 11 High :
Largely Compliant : 17 Substantial :
Partially Compliant : 19 Moderate :
Non-Compliant : 2 Low :

BASEL i

Rank : N/A
Score : N/A

TRANSPARENCY INTERNATIONAL i

Rank : N/A
Score : N/A

Tax Justice Network i

Rank : 62/133
Score : 78/100