Antigua amends offshore laws in bid to curb white-collar crime

    Following a 17-month review, the government of Antigua and Barbuda this month announced a series of legislative initiatives aimed at cleaning up the jurisdiction's reputation for being one of the most poorly regulated offshore financial centres. Proposed amendments to the International Business Corporation Act and the Money Laundering (Prevention) Act will create the Offshore Financial Sector Authority, which will have broad oversight and enforcement powers over offshore financial institutions.