St_Vincent_and_the_Grenadines St. Vincent and the Grenadines

New Documents

The 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.


Enforcement Actions

0 Items Found

Important Facts

  • The U.S. State Department identifies St. Vincent and the Grenadines as a major money laundering jurisdiction. The small set of islands remains vulnerable to money laundering and other financial crimes as a result of drug trafficking and its active offshore financial sector. Money laundering is principally related to the production and trafficking of marijuana, as well as the trafficking of other narcotics within the Caribbean region. Money laundering occurs through various financial institutions, such as domestic and offshore banks. Although off-shore businesses do not need a physical presence in the jurisdiction, offshore banks are required to have presence. Another common vehicle for money laundering is through money transmitters and couriers, through airports, ports, or other points of entry.
Source: 2020 International Narcotics Control Strategy Report (INCSR)  


FATF i | 2013 Methodology

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

Tax Justice Network i

Rank : 114/133
Score : 66/100