According to the US State Department 2018 report, the outstanding Anti-Money Laundering deficiencies in St Vincent relate to the supervision of DNFBPs such as real estate agents, lawyers, jewellers, dealers in precious metals, and accountants.
The FIU has been designated by the Anti-Money Laundering and Terrorist Financing Regulations as the Regulator of DNFBPs, (Designated Non-Financial Business or Profession).
INCSR 2018 Volume II Money Laundering 186 SVG has not completed a national AML/CFT risk assessment.
The report said that In 2017, SVG initiated two charges for money laundering, which are currently being prosecuted in the courts.
There were no convictions for money laundering.
According to the report, since its inception in 2015, the FIU’s Civil Asset Recovery Division has frozen assets with a value of more than U.S. $500,000 and is currently working on several civil recovery/forfeiture cases.
The US State Department in its report said the government should become a party to the United Nations Convention Against Corruption.