St. Vincent and the GrenadinesThe Caribbean Financial Action Task Force published its mutual evaluation report on the anti-money laundering and counterterrorist financing framework of St. Vincent and the Grenadines including a review of the jurisdiction’s technical compliance with Financial Action Task Force Recommendations.
The St. Vincent and the Grenadines’ Financial Intelligence Unit issued a guiding document intended to provide institutions with necessary advice with respect to establishing customer relationships.
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.
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| Technical | Effectiveness |
|---|---|
| Compliant : 13 | High : |
| Largely Compliant : 17 | Substantial : 3 |
| Partially Compliant : 9 | Moderate : 5 |
| Non-Compliant : 1 | Low : 3 |
| Rank : 105/141 |
| Score : 4.48/10 |
| Rank : 39/180 |
| Score : 59/100 |
| Rank : 114/133 |
| Score : 66/100 |