The United States has named several CARICOM countries as major money laundering states whose financial institutions engage in transactions involving significant proceeds from international narcotics trafficking. The report also notes that Jamaica and other Caribbean countries like the Bahamas, Belize and Haiti, had been classified as major drug-transit countries.
In its just released 2014 International Narcotics Control Strategy Report, the US State Department listed Antigua and Barbuda, the Bahamas, Belize and Haiti as among major money laundering countries and jurisdictions around the world. The other Caribbean jurisdictions named are the British Virgin Islands and the Cayman Islands.
The report notes that countries like the UK, US, Australia, Brazil, Russia, France, Canada as well as the Dominican Republic had been designated major money laundering countries.
It says the complex nature of money laundering transactions makes it difficult in many cases to distinguish the proceeds of narcotics trafficking from inflows of other serious crimes.
All feeds
