Key Documents

May 21, 2013

May 21, 2013

May 21, 2013

May 13, 2013

May 21, 2013

Important Facts

The U.S. State Department labels Dominica as a major money laundering country. The country has an offshore sector with a large international business company and internet gaming company presence. The majority of money laundering cases involve external proceeds from illicit sale of narcotics and cybercrime. Additionally, foreign nationals have used automated teller machines in Dominica to skim money from European bank accounts by exploiting security deficiencies. The State Department also identified the country’s geographical location and porous borders as raising the risks associated with narcotics trafficking. As of 2019, Dominica offshore sector hosts 17 offshore banks, two internet gaming companies, 10 credit unions, one development bank, 16 insurance agents, two insurance brokers, 19 insurance companies, 10 MSBs, and an unknown number of trusts,and ICBs. Dominica’s citizenship by investment program also allows individuals to obtain citizenship through a donation to the government’s Economic Diversification Fund of $100,000 for an individual or $200,000 for a family. Dominica has know-your-customer and suspicious transaction reporting regulations, and the country’s anti-money laundering legislation provides for enhanced due diligence measures for politically exposed persons.

-Source: 2020 International Narcotics Control Strategy Report (INCSR)

Rank : 123/141

Score : 3.88/10

Rank : 48/180

Score : 55/100

Rank : 118/133

Score : 74/100