SMALL CARIBBEAN JURISDICTIONS STRUGGLE TO EFFECTIVELY REGULATE A CASINO SECTOR VULNERABLE TO MONEY LAUNDERERS
July 1st, 2008
BY SUZANNE KOELEGA and JUHEL BROWNE
"CASINOS are an important part of the development of the Caribbean tourist sector, yet they hold a particular attraction to money launderers. Casinos provide the venues for large flows of cash, which launderers can utilise to disguise the true origins of their criminal proceeds."
That statement, made at a 1997 meeting of the Caribbean Financial Action Task Force (CFATF) in Aruba, still holds true 11 years later. In the war against money laundering and under international pressure, many Caribbean islands have adopted ...
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