BDO

Antigua advisor attacks US Advisory against island’s offshore industry

One of the architects of Antigua's new anti-money laundering laws has written to the US Treasury protesting its recent issuance of an Advisory warning that all transactions with Antiguan financial institutions should be treated as suspicious. US-based attorney Carlos E. Loumiet conceded that there were "a few shortcomings" in Antigua's new legislation but he claimed the US had ignored the "numerous positive changes in bank supervision in Antigua and Barbuda over the past two years designed to clean up the offshore banking sector in that country".

Former US regulators lend support to white-collar criminals in Antigua

A report that we have been told was paid for by powerful banker Allen Stanford and presented to the Antiguan government in January of this year as part of the review of Antigua's offshore financial services sector contained a recommendation that would have severely hindered efforts to combat rampant white-collar crime.