St. Kitts and NevisThe Caribbean Financial Action Task Force published a mutual evaluation report assessing the anti-money laundering and counterterrorist financing regime of St. Kitts and Nevis, including the jurisdiction’s compliance with the Financial Action Task Force Recommendations.
The St. Kitts’ Financial Services Regulatory Commission issued a notice outlining the regulator’s response to the COVID-19 pandemic, noting that on-site examinations and follow-up examinations are suspended for the month of April 2020.
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
For the fourth time this year, U.S. officials blacklisted an Iranian national using a Caribbean passport while purportedly helping Iran circumvent sanctions.
0 Items Found
| Technical | Effectiveness |
|---|---|
| Compliant : 11 | High : 0 |
| Largely Compliant : 15 | Substantial : 0 |
| Partially Compliant : 14 | Moderate : 3 |
| Non-Compliant : 0 | Low : 8 |
| Rank : N/A |
| Score : N/A |
| Rank : N/A |
| Score : N/A |
| Rank : 68/133 |
| Score : 75/100 |