Financial Crime World

Financial Compliance in Saint Kitts and Nevis: A Guide to Avoiding Job Search Scams

Warning from the Financial Services Regulatory Commission (FSRC), White Collar Crime Unit (WCCU) and Financial Intelligence Unit (FIU)

The FSRC, WCCU, and FIU of Saint Kitts and Nevis are warning the public about a growing trend of job search scams that are being offered online through websites and social media platforms. These scams specifically target individuals who are interested in working from home or earning extra income, with promises of unusually high wages for minimal tasks.

Red Flags to Watch Out For

The FSRC and WCCU have identified several red flags associated with these scams:

  • Lack of communication: Perpetrators who use social media direct messages only to communicate, distribute tasks and provide payment details without any verbal or face-to-face communication.
  • Payment through wire transfers: Payment for services through wire transfers and mobile transactions, with instructions to forward a portion of the payment to other individuals via money remitters.
  • Request for personal information: Requests for personal information, including banking details, before sending an official confirmation of employment for the advertised job.
  • Lack of company details: Lack of normal company details such as a website, social media page or physical address.
  • Phishing emails: Job advertisements that include phishing emails which require you to access a link to gain unauthorized access to your personal devices and information.

What You Need to Know About Money Laundering

Any money derived from these scams is considered money laundering. According to Section 4(2) of the Proceeds of Crime Act (POCA), a person engages in money laundering if they know or ought to reasonably have known that the money or other property was obtained from some form of criminal activity.

What to Do If You’ve Been Affected

If you have received funds via a job search scam, contact the WCCU immediately via email at wccu@sknfp.gov.kn or phone at 467-1952/3/4 or 662-4723. Avoid using these funds, as failure to report may result in a money laundering charge and the penalties outlined in Section 4(1) of the POCA.

Conclusion

The FSRC is committed to protecting the financial integrity of Saint Kitts and Nevis. By being vigilant and reporting suspicious activities, you can help prevent job search scams and keep your finances safe.