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Caribbean offshore Financial Centers


Author Info

  • Esther C. Suss
  • Oral Williams
  • Chandima Mendis


The paper reviews the development of offshore financial activities in the English-speaking Caribbean islands and takes stock of the size and status of these sectors today. In view of the heightened concerns of the international community about money laundering, the costs and risks to countries of having or establishing offshore sectors have risen considerably.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/88.

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Length: 34
Date of creation: 01 May 2002
Date of revision:
Handle: RePEc:imf:imfwpa:02/88

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Postal: International Monetary Fund, Washington, DC USA
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Keywords: Money laundering; financial services; financial institutions; offshore banks; international standards; financial sector; financial regulation; international cooperation; financial intelligence unit; noncooperative countries; suspicious transactions; financial stability; money laundering activities; judicial authorities; secrecy provisions; financial regulations; supervisory authorities; customer identification; financial system; criminal justice; due diligence; beneficial owners; legal assistance; laundering activities; legal entities; regulatory bodies; regulatory requirements; secrecy laws; know your customer; tax evasion; restrictive conditions; money laundering laws; enhancing contributions; competent authorities; international banks; money laundering regulations; laundering legislation; share information; money laundering measures; unusual transactions; drug trafficking; cross border transactions; combating money; tax matters; anonymous accounts; combating illegal activities; reserve requirements; financial market; supervisory responsibilities; prudential regulation; beneficial ownership; regulatory measures; detecting money laundering activities; criminal elements; financial operations; suspicious activity; business relationships; regulatory frameworks; international capital; financial supervision; reporting requirements; life insurance; crime suspects; law enforcement; suspected foreign counterparts; border transactions; supervisory systems; laundering trends; criminal investigations; customer policies; financial systems; technical resources; combat fictitious names; trust service providers; professional secrecy; suspicious transactions information; rudimentary requirements; criminal justice system; bonds; regulatory authority; know your customer policies; financial statements; domestic financial systems; administrative sanctions; banking secrecy; suspicious transactions reporting; international finance; insurance law; customer identification requirements; investigative powers; money laundering techniques; anti terrorist financing; bank secrecy laws; restrictive practices; legal assistance requests; supervisory framework; financial markets;


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Cited by:
  1. Friedrich Schneider, 2008. "Money laundering and financial means of organised crime: some preliminary empirical findings," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 10(3), pages 309-330.
  2. Friedrich Schneider, 2010. "Turnover of organized crime and money laundering: some preliminary empirical findings," Public Choice, Springer, vol. 144(3), pages 473-486, September.
  3. Friedrich Schneider & Ursula Windischbauer, 2008. "Money laundering: some facts," European Journal of Law and Economics, Springer, vol. 26(3), pages 387-404, December.
  4. repec:wbk:wbpubs:7460 is not listed on IDEAS
  5. Michael Brei, 2013. "Offshore financial centers in the Caribbean: An overview," EconomiX Working Papers 2013-40, University of Paris West - Nanterre la Défense, EconomiX.
  6. Arielle Joseph & Bernhard Troester, 2013. "Can the Mauritian Miracle continue? - The role of financial and ICT services as prospective growth drivers," Competence Centre on Money, Trade, Finance and Development 1301, Hochschule fuer Technik und Wirtschaft, Berlin.
  7. Ahmed Zoromé, 2007. "Concept of offshore Financial Centers," IMF Working Papers 07/87, International Monetary Fund.
  8. Luca Brandi, 2004. "The Economy of Small States," Rivista di Politica Economica, SIPI Spa, vol. 94(6), pages 145-173, November-.


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