WASHINGTON, United States—The United States says despite recent improvements as a “significant” offshore centre, Antigua and Barbuda “remains susceptible” to money laundering. In its 2013 International Narcotics Control Strategy Report on money laundering and financial crimes, the US Department of State said that Antigua and Barbuda’s status stems from its offshore financial sector and Internet gaming industry.
“Illicit proceeds from the trans-shipment of narcotics and from financial crimes occurring in the United States are laundered in Antigua and Barbuda,” the report stated. During the past year, it said the Office of National Drug Control and Money Laundering Policy (ONDCP) in Antigua had “compiled evidence that money laundering related to drug trafficking takes place through local financial institutions.”