Financial Crime World

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St. Kitts and Nevis Tightens Grip on Anti-Money Laundering Regulations

Warning Against Job Search Scams Linked to Money Laundering Activities

The Financial Services Regulatory Commission (FSRC), White Collar Crime Unit (WCCU) and Financial Intelligence Unit (FIU) are warning the public to be vigilant against job search scams, which have been linked to money laundering activities.

These scams typically target individuals seeking employment opportunities or those looking to earn extra income. Scammers pose as employers offering unusually high wages for minimal tasks, such as typing, data entry or preparing correspondence. Victims are then asked to provide personal information, including banking details, before being informed of their “successful” job application.

Red Flags to Watch Out For

  • Use of social media direct messages only for communication
  • Payment via wire transfers and mobile transactions
  • Requests for personal information without providing a company website or physical address

Money Laundering Alert

The Financial Intelligence Unit has observed that any money derived from these scams is considered money laundering. The Proceeds of Crime Act (POCA) outlines that a person engages in money laundering if they know or ought to reasonably have known that the money or property was obtained from criminal activity.

Public Advice

  • Be cautious and avoid using funds derived from such activities
  • Failure to report these activities could result in a money laundering charge and penalties outlined in POCA

Reporting Suspicious Activities

If you have received funds via a job search scam, please immediately contact the WCCU at wccu@fsrc.kn or wccufsrckn@live.com, or call 467-1952/3/4 or 662-4723.

Government Commitment

The government is committed to strengthening anti-money laundering regulations and ensuring the integrity of the financial sector. The public is urged to report any suspicious activities to the authorities and cooperate with investigations to prevent money laundering and other financial crimes.