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Saint Vincent and the Grenadines Deals with the False Accusations

Dec 11, 2017

Offshore jurisdictions may be sensitive in the cases of accusation. “Money laundering” indicating statements often cause reputation loss. Even if the country can manage unfair allegations and protect itself, it can still work out as a critical reception for the prospective investors.

In this situation, we can give an indicative example: case of Saint Vincent and the Grenadines. This offshore jurisdiction was accused of being one of the most popular one for money laundering. Why? Media was spreading the hype regarding Paul Manafort’s money laundering. Unfortunately, Saint Vincent and the Grenadines became one of the points on the route he used for transferring money. Is it enough to accuse the whole country of being the most popular place to conceal your illegal incomes? We are sure it is not.

FBI started an investigation and St. Vincent had to justify itself. It is important to mention that this territory has such authorities as the National Anti-Money Laundering Committee, Finance Intelligence Unit and Financial Services Authority. They issued a joint statement with the official position that considers accusations as inaccurate and erroneous. They also mentioned that St. Vincent has always been accurate and effective in fighting financial crimes that include money laundering. This jurisdiction has always been supporting all international investigations and fought against the money laundering, the financing of terrorism, tax offences, and other financial crimes together with the international authorities.

Saint Vincent and the Grenadines is out of any sanction lists and its legislation complies with major international acts on financial crimes. The US laws are considered to be the strictest in matters of transferring and storing money overseas, therefore the information in the media seems to be incomplete. The FBI will continue its investigations into Paul Manafort but what can be done with St. Vincent reputation blackened by the media resources? They will deal with the consequences for some time now. When choosing an offshore jurisdiction, it is crucial to use the professional advice and analysis, not only an open-source information that might not correspond to the reality. This is why you can use services offered by Offshorelicense Ltd experts. We are ready to assist you in choosing the best location for your business.

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