“The double standard is a bit difficult to stomach.” – Eamon Courtenay

Eamon Courtenay

Going back to the regional issue of correspondent banking, Foreign Minister Eamon Courtenay also touched on the crippling effects of the regulations in place, as well as the actual whereabouts of ill-gotten funds that are being invested in houses, luxury vehicles and boats in other first world countries.

Eamon Courtenay, Minister of Foreign Affairs

“In the meeting with Brian Nelson, we made the point to him that we find it curious that the Caribbean, let’s speak about the Caribbean, is being pressured on money laundering and anti-terrorism.  But it was curious that once the sanctions were announced against Russia, the billions of dollars that they say is the proceeds of money laundering were found in London, in New York, in Geneva.  We found it very curious that the planes and the boats and the properties that they seized were all in Paris or on the French Riviera, in New York apartments, in London mansions.  Those are the proceeds, according to them, of money laundering in the developed world, in the very banks that are saying that they are not going to be providing services to Caribbean banks.  The double standard is a bit difficult to stomach.”