Wednesday, January 15, 2025

WILL PROPOSED BVI RESIDENCY BY INVESTMENT BECOME THE NEW BACKDOOR METHOD FOR WHITE-COLLAR CRIMINALS TO ENTER THE UK?

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This week's announcement, by British Virgin Islands Premier NATALIO WHEATELY, that the BVI government intends to explore the possibility...

MORE DETAILS EMERGE REGARDING PERSONAL MISCONDUCT OF ITS OWNER IN CENTRAL BANK TAKEOVER OF SAINT LUCIA NBFI FINANCIAL INVESTMENT AND CONSULTANCY SERVICES

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Lorne Theophilus  The recent action, taken by the ECCB, the regional financial regulator for the East Caribbean, to take over management and...
Tuesday, January 14, 2025

RAMPANT REAL ESTATE FRAUD CONTINUES IN SAINT LUCIA, AND THE COUNTRY'S PRIME MINISTER, FINANCIALLY BENEFITING FROM THE ILLEGAL SCHEME, BLOCKS NECESSARY REFORM

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Longtime readers of our financial crime articles may recall that, back in 2021 and 2022, we covered the Land Registry fraud being conducted ...

COMPLIANCE OFFICERS: IGNORE MISLEADING AND INACCURATE INFORMATION ON CBI DUE DILIGENCE APPEARING ON INVESTMENT MIGRATION MEDIA WEBSITES

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If you are a compliance officer at an international bank that encounters customers at account opening who are using economic passports of Ci...

BILLION DOLLAR 1MDB LAWSUIT CHARGES BARBADOS BANK WITH USING OPAQUE BVI SHELL COMPANIES TO COMMIT MASSIVE FRAUD

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Remember the multi-billion dollar 1MDB Malaysian sovereign wealth fund fraud? There is new litigation, filed in the British Virgin Islands, ...
Sunday, January 12, 2025

CONFLICT OF INTEREST IN CBI INDUSTRY ONLINE PUBLICATIONS RESULTS IN THEIR FAILURE TO DISCLOSE THE INHERENT RISKS TO INVESTORS OF SECOND PASSPORT PURCHASES

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Online media in the Citizenship by Investment (CBI/CIP) industry, which is relied upon to a large part by investors seeking to acquire a sec...
Friday, January 10, 2025

BANK HIT WITH TWENTY MILLION DOLLAR PENALTY FOR MASSIVE, APPARENTLY INTENTIONAL AML FAILURES, SUES THE FDIC

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CBW BANK, a state chartered bank in Kansas, which the FDIC asserts ran an "illusory AML/CFT program," resulting in a civil money p...

EASTERN CARIBBEAN CENTRAL BANK POSTS ADMINISTRATOR TO RUN SAINT LUCIA FICS; FINANCIAL MISCONDUCT OR LINKS TO CIP?

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In a recent public announcement, the Eastern Caribbean Central Bank (ECCB), the financial regulator for the region, has named NIGUEL STREETE...
Thursday, January 9, 2025

CONFESSIONS OF A SAINT KITTS MONEY LAUNDERER

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Interest in the period when money laundering thrived in the Caribbean has increased of late, and I have received a number of inquiries seeki...
Wednesday, January 8, 2025

IRANIAN SANCTIONS EVADERS AND PEPS USING CARIBBEAN CBI PROGRAMS TO OBTAIN MORE VALUABLE EUROPEAN CBI PASSPORTS

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There's a report out that asserts prominent Iranian oil traders, who also happen to be PEPs, are employing a two-step tango to deceive E...

EVOLVING MARKETPLACE CONDITIONS INCREASE THE RISK THAT COMPLIANCE OFFICERS PERFORMING TRANSACTION MONITORING WILL SEE MORE MONEY LAUNDERING THROUGH LIFE SETTLEMENTS

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As complex market forces force smaller and independent firms selling Life Settlements to investors out of business, the giants in the indust...