The Organization of American States published a Multilateral Evaluation Mechanism report focused on Grenada’s progress in implementing the Inter-American Drug Abuse Control Commission Hemispheric Plan of Action on Drugs 2016-2020, including its anti-money laundering efforts.
The Eastern Caribbean Central Bank published its 2018-2019 Annual Report for the fiscal year ending March 31, 2019, which focuses on monetary stability and its application of the risk-based approach in combating money laundering and terrorist financing.
At least nine Caribbean banks that have lost access to U.S. correspondent accounts as a result of the “de-risking” trend now access U.S. dollars indirectly, usually at higher costs, through their ties to U.K. and other overseas financial institutions, sources told ACAMS moneylaundering.com.
The U.S. Justice Department announced a non-prosecution agreement with Swiss bank Ersparniskasse Schaffhausen AG, Spanish authorities are calling for Gibraltar to be added to an EU list of uncooperative tax havens, and more, in this week’s roundup.
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