FIU receives high ratings from Brent Hardt

The Finance Intelligence Unit (FIU) of St. Vincent and the Grenadines has received strong commendations from Brent Hardt, Chargé d’Affaires ad interim at the U.S. Embassy to Barbados and the Eastern Caribbean.{{more}}

Hardt, on Tuesday while on an official visit to St.Vincent and the Grenadines, recognised the FIU as a model for other countries.

In an address at Cabinet Room, he noted that the United States deeply admires the job that Grenville Williams, Director of the FIU, and St.Vincent and the Grenadines had done in dealing with money laundering.

“I think it is one of the strongest units in the Caribbean region, a model for other countries,” said Hardt, noting that US law enforcement agencies work closely with St.Vincent and the Grenadines.

Prime Minister Dr. Ralph Gonsalves in his remarks, expressed thanks to Hardt for his kind sentiments towards the FIU.

“When we set up this unit in 2002, we set it up as part of the companion legislation to the November 2001 law, [a] very strong law, dealing with money laundering and the proceeds of crime,” said Gonsalves.

Gonsalves stated that less than two years after setting up the local FIU, the unit was invited to join the elite group of FIU’s throughout the world, namely the Egmont Group, because of the excellent work it had been producing.

“There are countries from the region far larger than St.Vincent and the Grenadines which come here to look at our FIU and see how it functions and to look at our laws and see how those laws function,” Gonsalves disclosed.

The functions of FIU include receipt and analysis of Suspicious Activity Reports (SARs) which may relate to money laundering or terrorist financing and the investigation of money laundering, terrorist financing and other serious financial crimes.(HN)