St. Lucia

New Documents

The European Commission detailed regulatory violations by EU member states in its June infringement package, including that Bulgaria has not correctly transposed the Fifth Anti-Money Laundering Directive.

The U.S. Justice Department announced that Devonn Fair was sentenced to prison after pleading guilty to drug distribution and conspiracy to commit money laundering.


Enforcement Actions

New Zealand’s Department of Internal Affairs issued a formal warning to Auckland, New Zealand-based real estate company for failing to meet its obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

The Financial Intelligence Analysis Unit of Malta issued a €279,756 fine against the Gzira, Malta-based financial institution for violations of the Prevention of Money Laundering and Funding of Terrorism Regulations related to ongoing transaction monitoring and customer risk assessments.

Key Documents

Important Facts

  • The U.S. State Department identifies St. Lucia as a major money laundering jurisdiction. Although St. Lucia’s expanding citizenship by investment programs and international businesses raise concerns regarding its potential to enable corruption, the jurisdiction has adopted new amendments that limit such risks, by for example, limiting tax exemptions for investment firms that are considered residents of the jurisdiction and requiring better information sharing programs. The amended legislation also requires resident entities to maintain a register of beneficial owners. Despite these amendments, the jurisdiction's geographic location and porous borders increase its risks of money laundering  of drug trafficking proceeds. Money laundering most commonly occurs through structured deposits, currency exchanges, cash real estate transactions, jewelry dealers, legal services, and nonprofit organizations.
Source: 2020 International Narcotics Control Strategy Report (INCSR)  


FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 1 High : 0
Largely Compliant : 9 Substantial : 0
Partially Compliant : 24 Moderate : 3
Non-Compliant : 6 Low : 8


Rank : 113/141
Score : 4.25/10


Rank : 48/180
Score : 55/100

Tax Justice Network i

Rank : 132/133
Score : 71/100