Saint Kitts and Nevis Takes Lead in Combating Money Laundering and Terrorist Financing

Introduction

In May 2001, the government of Saint Kitts and Nevis established a dedicated Financial Intelligence Unit (SKNFIU) to strengthen its efforts against financial crimes. The unit is mandated to combat money laundering and terrorist financing in line with international standards.

Mission and Objectives

The SKNFIU is headquartered within the Ministry of Finance and has a mission to promote an efficient and effective financial intelligence organization that:

• Prioritizes combating money laundering, terrorist finance, and related activities through cutting-edge systems, experienced human resources, and state-of-the-art technology.
• Maintains confidentiality, integrity, and professionalism in its operations.

Vision

The SKNFIU’s vision is to become a benchmark for intelligence gathering and sharing on a national, regional, and international level. By adding value to investigation and prosecutorial processes, the unit aims to make a significant impact in combating financial crimes.

Importance of Financial Intelligence Units

Saint Kitts and Nevis joins a growing list of countries that have recognized the importance of financial intelligence units in fighting money laundering and terrorist financing. The SKNFIU’s presence is expected to enhance cooperation among regional and international partners, ultimately contributing to a safer and more secure global financial landscape.

Key Benefits

• Enhances cooperation among regional and international partners.
• Contributes to a safer and more secure global financial landscape.
• Adds value to investigation and prosecutorial processes.

Overall, the establishment of the SKNFIU is a significant step forward in Saint Kitts and Nevis’ efforts to combat financial crimes and contribute to a safer and more secure global financial system.