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SAINT LUCIA FLAGGED IN US MONEY LAUNDERING REPORT

The United States government has again flagged Saint Lucia as a “major money laundering country”. Local and international criminal organizations exploit trading firms including banks to filter and wash monies through the financial system.

The International Narcotics Control Strategy report issued annually by the us State Department has singled out Saint Lucia’s Citizenship by Investment program out of concerns over political influence and ‘exposure to local corruption’. The State Department has advised the government to step up investigative capacity among law enforcement agencies to prosecute and cut-off loopholes across the local financial sector.

 

Click below for the 2018 INCS report.

https://www.state.gov/j/inl/rls/nrcrpt/2018/index.htm

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4 comments

  1. Way to go St. Lucia. There are not corruption in St. Lucia. While American kids are slaughtered in school, politicians still take gun lobby money. That’s massive corruption..

  2. A big piece of FAKE ASS news from HTS. No surprise.

    • Follow this link for the 2018 INC’S report

      https://www.state.gov/j/inl/rls/nrcrpt/2018/index.htm

    • St. Lucia launched an economic citizenship program (CIP) in October 2015, but changed its fees and regulations in January 2016. An individual can obtain citizenship for a minimum donation to the National Economic Fund of U.S. $100,000 per applicant, U.S. $165,000 for an applicant and spouse, or U.S. $190,000 for a family of up to four persons. Investment options include a U.S. $300,000 minimum purchase in real estate, a U.S. $3.5 million investment in an approved project, or a U.S. $500,000 purchase of government bonds (increasing to U.S. $550,000 for a family of four). Investment applicants must pay government fees of U.S. $50,000 and up, depending on the number of dependents. Applicants also pay due diligence fees of U.S. $7,500 per main applicant and U.S. $5,000 for each additional applicant over 16 years of age. Application for economic citizenship must be made through a government-approved local agent. An in-person interview is not required. Applicants must make a source of funds declaration and provide evidence supporting the declaration. The government established a Citizenship by Investment Unit (CIU) to manage the screening and application process. The CIU does not maintain adequate autonomy from politicians to prevent political interference in its decisions. U.S. law enforcement also is increasingly concerned about the expansion of these programs due to the exposure to local corruption and the visa-free travel and ability to open bank accounts accorded these individuals.

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