2001: New Anti-Money Laundering laws, regulations & guidelines
While St. Vincent & the Grenadines has always believed in privacy and confidentiality it never offered itself as a safe haven for rogue clients. The new government of St. Vincent & the Grenadines under its Prime Minister Dr. The Hon. Ralph Gonsalves has introduced during the course of 2001 Anti-Money Laundering laws and regulations in order to combat any criminal money-laundering activities and other criminal abuse of its offshore financial centre. Corresponding guidelines which will be issued at the very beginning of 2002 will ensure that all relevant requirements of the FATF are being met and it is expected that St. Vincent & the Grenadines will be removed from the list of non-cooperative countries and territories in money laundering matters during the fist half of 2003.