THE ISSUES REQUIRE THAT YOU RAISE COUNTRY RISK FOR NEVIS

If you have been following the nightmare for depositors who have been denied access to their funds for years at HAMILTON RESERVE BANK, whilst the Premier and regulators ignore their responsibilities, due to Conflict of Interest, and fear of the logical consequences for the offshore economy, know that there are several other issues on the horizon just as troubling for the investing public, international banks, and Western law enforcement agencies.

Nevis passed broad-based offshore gaming legislation earlier this year, and has just named its international regulator to oversee its supervision. the problem is that this individual completely dropped the ball, with both Hamilton and BONI; how can we trust him with offshore gaming, a sector that the United States has a history of being concerned about, and of taking action where warranted.

Cyber currency is totally unregulated in the Eastern Caribbean; indeed the region's banking regulator has specifically warned about the situation, and yet the Premier's real estate agent spouse has now imported bitcoin vending machines. What's wrong with this picture?

Hamilton, in defending itself from multiple depositors, has accused both local regulators and law enforcement of facilitating terrorist financing and money laundering. These allegations must be reviewed, to determine whether they have a factual basis.

Under the circumstances, compliance officers charged with the assessment of Country Risk at their financial institution should now examine these issues, and make an educated decision about elevating Country Risk to High, especially if their clients are conducting any trade or business in, or through, Saint Kitts & Nevis. Does this mean redlining all the local financial institutions, ceasing to extend credit, or accepting any new clients from that jurisdiction? You be the judge of what your Risk Appetite is, when there are serious issues that could impact revenue, Return on Investment, potential total loss, and reputation damage. Deal with Nevis at this time at your peril.