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Saint Lucia is in the process of revising its National Risk Assessment ahead of an application for re-rating in November 2023.
The National Anti-Money Laundering Oversight Committee (NAMLOC) has sought to strengthen the country’s capacity to combat money laundering, terrorist, and proliferation financing.
One of the mandates of NAMLOC is to review Saint Lucia’s legislative framework in relation to money laundering and propose the necessary amendments to existing legislation and enactment of new legislation to close existing gaps.
More in this Glen Simon report:
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SOURCE: National Competitiveness and Productivity Council
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Lol. Politicians, drug dealers, and their ilk will still find a way to wash that money.
The regular person pays more money in fees to the banks so they could implement AML and KYC policies. The criminals still get away with their activities while we pay the bill.
What if our legislators are money launderers?
Yeah I hear ya’ll ee, me a regular person will be expecting some money I legaly financed soon, come and call it money laundering I waiting.
However your friends and acquaintances will still have more than I would ever smh.