Britain Announces Revision of Financial Advisory Against Antigua

On November 21, 2000, the British Government announced that it has cautiously advised that Antigua and Barbuda now appears to have improved its anti-money laundering regime and hence is less a problem than before, but noted remaining concerns that the offshore gaming sector can be a conduit for dirty money. In April 1999, the UK issued an advisory to its financial institutions after alleging that the legislative changes to the anti-money laundering laws in Antigua and Barbuda weakened the capacity of this country to deal effectively with money laundering, and exposed the offshore sector to risk from criminals…[more]