Financial Crime World

Haiti’s Financial Crime Prevention and Deterrence Measures in Shambles Amid Crisis

As Haiti’s de facto government teeters on the brink of collapse, concerns are growing about the country’s financial crime prevention and deterrence measures. The crisis has been exacerbated by the United States’ belated break with unelected Prime Minister Ariel Henry, leaving a power vacuum that has allowed criminal gangs to gain control over key infrastructure.

Crisis Deepens

  • Gangs have taken over large swaths of Port-au-Prince, including downtown areas, and are moving closer to complete control of the capital.
  • The Haitian National Police has largely deserted the city, unable to stand up to the well-armed gangs.
  • The United Nations estimates that half of Haiti’s population is now in need of humanitarian assistance.

Financial Consequences

  • Gangs have taken over key infrastructure, including ports and airports, disrupting trade and commerce.
  • The country’s economy has been further crippled by the loss of international support for Henry’s government.

Challenges Ahead

  • Despite these challenges, there are concerns that the United States’ proposed Multinational Security Support force may not be equipped to effectively address the crisis.
    • The force is small in size, with only 2,500 officers, and its rules of engagement remain unclear.

Emergency Declared

  • Haitian Finance Minister Patrick Boisvert has declared a state of emergency in the Port-au-Prince region and banned all public protests.
  • This move has raised concerns that his focus is on quelling public uprisings rather than addressing the root causes of the crisis.

Power Struggle

  • Behind closed doors, remaining government officials, Haiti’s elite, the United States, and the Caribbean Community bloc (CARICOM) are likely negotiating a power handover.
  • However, it remains unclear who will ultimately be in charge of the country and whether they will prioritize addressing the financial crime prevention and deterrence measures that have allowed gangs to gain control.

Civil Society Demands Change

  • Haitian civil society has been demanding a larger voice in their own future, and efforts are underway to negotiate a broad-based, legitimate transitional government.
  • Stability, democracy, and Haitian lives depend on these efforts being given the space and time to flourish.

A Call for Action

  • The crisis in Haiti serves as a stark reminder of the need for effective financial crime prevention and deterrence measures in countries prone to instability.
  • As the international community looks to respond to this crisis, it must prioritize supporting the Haitian people in their quest for stability, democracy, and economic security.