
Money Laundering Is A Global Problem
Basseterre, Saint Kitts – Nevis
July 23, 2008 (CUOPM)
The Federal Government in St. Kitts and Nevis continues to take measures to prevent the twin-island Federation being used for money laundering activities and the financing of terrorist activities around the world.
“Any deficiencies that we detect as we prepare ourselves for the upcoming assessment by the Caribbean Financial Action Task Force “CFATF” in September, 2008, my government will take measures to correct them and ensure that the Federation’s legal, law enforcement and regulatory regimes are in compliance with international standards,” said Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas.
“We have been to Parliament on several occasions to improve existing legislation so that we can seriously make a contribution in the proper regulation of our financial services sector and prevent the use of our jurisdiction in the committal of white-collar crimes,” said Prime Minister Douglas.
In preparation for the assessment, four task force members – two legal experts, one law enforcement and a financial expert have been trained to be mutual evaluation examiners by the Caribbean Financial Action Task Force.

