Antigua and Barbuda Country Summary

FATF Status

Antigua & Barbuda is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Antigua & Barbuda was undertaken in November 2021. According to that Evaluation, Antigua & Barbuda was deemed Compliant for 11 and Largely Compliant for 25 of the FATF 40 Recommendations. It remained Highly Effective for 0 and Substantially Effective 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Antigua and Barbuda faces significant challenges related to crime and corruption, particularly with allegations frequently surfacing against government officials, although the legal framework exists to address such issues. Human trafficking, drug trafficking, and financial crimes are notable concerns, with the country serving as a transit hub for cocaine and a destination for human trafficking, while local criminal networks are increasingly involved in these activities.

Despite these challenges, the government has shown a commitment to combating organized crime and high-level corruption, although low-level corruption persists. The judicial system struggles with case backlogs and corruption within law enforcement, yet efforts are underway to improve these conditions, alongside initiatives aimed at supporting victims of domestic violence and human trafficking.

Antigua and Barbuda's economy is primarily driven by tourism and related sectors, with a positive growth forecast of 6.1 percent for 2024, supported by a rebound in tourism and increased construction activity. The government actively promotes foreign direct investment (FDI) through the Antigua and Barbuda Investment Authority (ABIA), which facilitates investments in priority sectors such as tourism, agriculture, and marine services, while maintaining an open dialogue with investors and offering equal treatment to both local and foreign entities. Despite its welcoming investment climate, the country faces vulnerabilities to external shocks, including climate change and natural disasters, and has unresolved disputes that may warrant caution for potential investors, particularly in real estate.