Financial Crime World

Title: St. Kitts and Nevis Strengthens Anti-Money Laundering Regulations with Enhanced FIU Role

Date: September 23, 2020

St. Kitts and Nevis, a twin-island nation in the Caribbean, is heightening its efforts to combat money laundering and terrorist financing by fortifying the role of its Financial Intelligence Unit (FIU).

St. Kitts and Nevis’s Financial Intelligence Unit (FIU)

  • The FIU, a division of the Ministry of Finance
  • Authorized to oversee and coordinate AML and CFT regulations implementation
  • Central platform for receiving, analyzing, and disseminating suspicious transactions reports

Commitment to Updating AML/CFT Framework

  • Aligning with FATF recommendations and international best practices
  • A vital part of the nation’s defense against financial crimes

Adoption of Technology and Innovation

  • Enhancing efficiency in the face of complex financial crimes
  • State-of-the-art tools and systems enable analyzing larger transaction volumes and maintaining comprehensive records

Crucial Role in a Recovering Economy

  • Addressing challenges of financing activities during the COVID-19 pandemic recovery
  • Collaborating with local financial institutions and stakeholders

Reporting Suspicious Activity

  • Encouraging public involvement in combating financial crimes
  • Contact the FIU through its website, email, or phone for reporting

Contact Information