The Director of Antigua and Barbuda’s Office of National Drug and Money Laundering Control Policy, Edward Croft, has stressed the importance of adequate safeguards for Citizenship by Investment (CBI) programs.
He was speaking at the recent 2015 Caribbean Anti-Money Laundering and Financial Crimes Conference held in Miami, which attracted over 131 leaders from 25 territories from the region.
Croft discussed the framework in place in the Caribbean to combat money laundering and the financing of terrorism. He said that while CBI programs generate substantial inward investment, territories must ensure stringent anti-money laundering and countering the financing of terrorism safeguards.
Croft called for greater information sharing between competent authorities of CBI programs, both regionally and internationally, so that countries can share data on rejected CBI candidates and the reasoning underlying their decisions.