The National Audit Office. This is a
The NAO has just published its Report titled, Managing Risk in the Overseas Territories. It can be downloaded or read here: [link]. There is much on
When I was a practicing lawyer, I spent a lot of time and money developing a legal practice in this field. I went to the international and regional conferences to hone my skills and to make the necessary contacts. I devoted time to writing and speaking about the importance of the industry for
So, I read the Report with a view to seeing how
3. Capacity limitations in the offshore financial sector have limited Territories’ ability to investigate suspicious activity reports, and, in the case of the Turks and Caicos Islands, Anguilla and Montserrat, resources are below the critical mass necessary to keep up with increasingly sophisticated international standards and products in offshore financial services. The Department, [the FCO] with the support of relevant
What is our government going to do to make the necessary improvements? Are we even interested in seeing improvements? Well, now I am retired, I am well out of it and can contribute very little any longer. It is a worry for the new generation of Anguillian professionals. I wish them luck!