Financial Crime World

Financial Compliance Tips for Residents of Saint Kitts and Nevis

Warning: Job Search Scams on the Rise

Residents of Saint Kitts and Nevis are being warned about a rising trend of job search scams advertised online through social media platforms. These scams target individuals looking for opportunities to work from home or earn extra income in addition to their full-time employment.

Red Flags Associated with Job Search Scams

  • Social Media Direct Messages Only: The use of social media direct messages only to communicate, distribute tasks and provide payment details without any verbal or face-to-face communication.
  • Wire Transfers and Mobile Transactions: Payment for services is received through wire transfers and mobile transactions, with instructions to forward a portion of the payment to other individuals via money remitters.
  • Immediate Withdrawal Instructions: Victims are instructed to withdraw funds immediately after they are transferred into their account.
  • Lack of Normal Details: The perpetrators do not share normal details such as a company website, social media page or physical address.

Types of Financial Compliance in Saint Kitts and Nevis

In Saint Kitts and Nevis, there are several types of financial compliance that residents and businesses must adhere to. These include:

  • Anti-Money Laundering (AML) Compliance: This involves reporting suspicious transactions and maintaining records of customer identities.
  • Know Your Customer (KYC) Compliance: This requires businesses to verify the identities of their customers and maintain records of customer information.
  • Compliance with Sanctions: Businesses must comply with sanctions imposed by the United Nations and other countries, including the Specially Designated Nationals and Blocked Persons Lists.

Reporting Suspicious Activity

The Financial Intelligence Unit (FIU) is urging residents to be vigilant and report any suspicious activity to them. If it appears too good to be true, it usually is! Failure to report these activities could result in a money laundering charge and the penalties outlined in Section 4(1) of the Proceeds of Crime Act (POCA).

Residents are advised to avoid using funds derived from these activities and to contact the WCCU via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. or via telephone at 467- 1952/3/4 or 662-4723.