Antigua and Barbuda

New Documents

The Eastern Caribbean Central Bank, the Eastern Caribbean Securities Regulatory Commission, and the Financial Services Regulatory Commission of Antigua and Barbuda issued a joint statement addressing the emergence of unauthorized Bitcoin Automated Teller Machines.

Antigua and Barbuda’s House of Representatives passed the Digital Assets Business Bill 2020 on May 27, 2020.

News

Enforcement Actions

0 Items Found


Important Facts

  • The U.S. State Department labels Antigua and Barbuda as a major money laundering jurisdiction. As of December 2020, the financial sector includes six domestic banks, six international banks, 18 insurance companies, five offshore money remitters, six payday money lenders, three internet gaming entities, four casinos, and 37 citizenship-by-investment program agents. Corruption, drug trafficking, and fraud are major sources of illicit funds in Antigua and Barbuda. Front operations, wire transfers, and structuring deposits are the main means of money laundering. The sectors most vulnerable to money laundering are international banks, money services businesses and the insurance sector. The country has know-your-customer and suspicious transaction reporting requirements and enhanced due diligence requirements for politically exposed persons.
-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 9 High : 0
Largely Compliant : 23 Substantial : 0
Partially Compliant : 6 Moderate : 7
Non-Compliant : 2 Low : 4

BASEL i

Rank : 75/141
Score : 5.07/10

TRANSPARENCY INTERNATIONAL i

Rank : N/A
Score : N/A

Tax Justice Network i

Rank : 122/133
Score : 76/100