St. Kitts and NevisThe leaders of Antigua and Barbuda, Dominica, Grenada, and St. Kitts and Nevis signed a memorandum of agreement to strengthen rules for their Citizenship by Investment Programs and raise the minimum investment threshold to at least $200,000 by June 30, 2024.
The Caribbean Financial Action Task Force published a second enhanced follow-up report on the anti-money laundering and counterterrorist financing regime of St. Kitts and Nevis.
FATF Turns Sights Towards ‘Golden Passports’
A global anti-financial crime group’s recent criticism of “golden passports” suggests it will evaluate the controls nations have placed around them going forward, analysts told ACAMS moneylaundering.com, without necessarily updating its standards to account for them.
Caribbean Banks Found Workarounds After Losing Correspondent Accounts
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.
US Again Targets Iranians Holding Caribbean Passports
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| Technical | Effectiveness |
|---|---|
| Compliant : 11 | High : 0 |
| Largely Compliant : 20 | Substantial : 0 |
| Partially Compliant : 9 | Moderate : 3 |
| Non-Compliant : 0 | Low : 8 |
| Rank : N/A |
| Score : N/A |
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| Rank : 68/133 |
| Score : 75/100 |