St Kitts And Nevis: The Federation Disputes US Money Laundering And Financial Crimes Report


May 9 2017

Does St. Kitts and Nevis have adequate legislation in place to regulate the financial sector and prevent money laundering?   The United States and the government of St. Kitts and Nevis strongly differ on the issue.  The federation is taking issue with the US Department of State’s 2017 International Control Strategy Report that deals with money laundering and financial crimes.

Its vulnerability assessment of St Kitts and Nevis’ financial sector on the matter of economic criminal activity is rubbing the Team Unity Administration the wrong way. According to the report, the country’s Citizenship By Investment programme has been abused by foreigners for illegal purposes, particularly money laundering.