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 corruption and crime, with frequent allegations against government officials and a generally ineffective enforcement of anti-corruption laws. While the government has established mechanisms such as the Integrity in Public Life Act and the Office of National Drug and Money Laundering Control Policy to combat these issues, resource constraints and inadequate enforcement hinder their effectiveness.

Human trafficking, particularly for sex and forced labor, is a pressing concern, and the country serves as a transit point for drug trafficking, especially cocaine. Despite these challenges, the government has shown resilience by taking a strong stance against organized crime and implementing measures to improve the judicial system and support victims of violence and 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.