Financial Crime World

Investigating Financial Crimes in Antigua and Barbuda: A Look into the Types of Investigations

The fight against financial crimes, including money laundering and terrorism financing, is a top priority for authorities in Antigua and Barbuda. At the forefront of this effort is the Investigations Department of the Office of National Drug and Money Laundering Control Policy (ONDCP).

A Robust Investigative Arm

Team Structure

With a staff complement of four investigators, including a supervisor and a manager, the Investigations Unit is supported by the Administrative and Legal Departments of the ONDCP. This team is tasked with conducting thorough investigations into referrals from the Financial Intelligence Unit (FIU) in matters related to money laundering.

Key Responsibilities

  • Conducting investigations into referrals from the FIU
  • Gathering intelligence on suspected financial crimes
  • Collaborating with regional and international partners to combat money laundering

Training and Capacity Building

In 2008, members of staff received training both locally and internationally to enhance their skills in areas such as:

Cyber Security Awareness

  • Identifying potential cyber threats
  • Protecting against online attacks
  • Staying up-to-date with the latest security measures

Digital Evidence Identification

  • Collecting and analyzing digital evidence
  • Understanding the importance of chain-of-custody
  • Using specialized software to analyze data

First Aid and Insurance Supervision

  • Providing medical assistance in emergency situations
  • Conducting insurance investigations
  • Ensuring compliance with regulatory requirements

Intelligence Gathering

  • Collecting and analyzing information on suspected financial crimes
  • Identifying patterns and trends
  • Developing strategies to combat money laundering

Financial Investigation Techniques

  • Investigating complex financial transactions
  • Analyzing financial records and statements
  • Using forensic accounting techniques

Anti-Money Laundering

  • Understanding the basics of anti-money laundering laws
  • Identifying potential money laundering schemes
  • Developing strategies to prevent money laundering

Regional and International Cooperation

Money laundering is a global phenomenon that requires a collaborative approach. Antigua and Barbuda has taken significant steps to strengthen its relationships with regional and international partners, including the Caribbean Financial Action Task Force (CFATF).

Key Mechanisms for Cooperation

  • Mutual Legal Assistance Treaty (MLAT) signed with the US in 1999
  • Mutual Legal Assistance in Criminal Matters Act
  • Office of National Drug and Money Laundering Control Policy Act, 2003
  • Money Laundering (Prevention) Act, 2006

During the year, the Investigations Department received a total of 7 formal and 2 informal MLAT requests. While this represents a downward trend, efforts continue to be made to reverse this trend through increased engagement with regional and foreign partners.

Understanding Money Laundering Typologies

In recent years, several observations have been made regarding money laundering activities and trends in Antigua and Barbuda. A detailed analysis of these typologies is included at Annex B to provide a better understanding of how money laundering can occur. This knowledge is crucial in developing effective strategies to combat financial crimes.

By working together with regional and international partners, Antigua and Barbuda is committed to addressing the complex issue of money laundering and ensuring that its financial system remains transparent and secure.