Antigua Agrees to Measures of UN Offshore Forum and Urges Removal of Warnings (IA)

On April 17, 2000, the media announced that the Government of Antigua and Barbuda had signed an anti-money laundering agreement with the United Nations that requires it to implement various standards to prevent and combat money laundering, fraud investigation and prosecution, as well as applying minimum standards for record-keeping, investigating unusual and suspicious transactions, and requiring international cooperation concerning money laundering activities. The Antiguan Government has urged the U.K. and the U.S. Governments to lift their official warnings to businesses against using Antiguan offshore banks. Antigua became the first country to sign the standards announced during a conference of the UN Offshore Forum initiative at the end of March in the Cayman Islands…[more]