Thursday, Mar 21, 2019

Anti-money laundering tools

Anti-money laundering tools
12 Jul

The International Business Unit says it has some concerns regarding the anti-money laundering practices of some service providers.

Speaking during a recent stakeholder consultation, director of the Unit, Kevin Hunte revealed that for some weeks, the Unit has had at its disposal an enhanced due diligence tool.

He says the Unit has started conducting enhanced checks on directors and ultimate beneficial owners.

Mr. Hunte says it is important that Barbados is seen as a well-regulated jurisdiction.

He adds that this will only result in the island retaining and attracting the highest quality in business and investment.