United States Embassy Says Barbados Banks Laundering Drug Money!

Keltruth Blog Transforms From Boring To BLAST!

We don’t know what has happened to our friends at Keltruth Blog, but they have transformed their image from “stuck on a single issue boring” to a hard-hitting Barbados political and social blog that presents well-researched, take-no-prisoners articles on a wide range of interesting topics.

In the last week alone, Keltruth Blog stories have covered…

Skin cancer dangers for people with dark complexions

Barbados lawyer Gittens Clyde Turney threatening a witness in a Barbados court.

What is organized crime costing the taxpayers of Barbados?

Black liberation theology (The theology of Barack Obama’s former pastor Reverend Jeremiah Wright)

Money Laundering techniques used by the corrupt.

How some of the Barbados lawyers and politicians robbed a blind old lady of her land.

An ancient tablet in Jerusalem ignites debate on Messiah and Resurrection.

New Keltruth Series Slams Barbados Police, Banks & Government

A few days ago, Keltruth Blog posted a story of how the Royal Barbados Police Force are slacking in drug enforcement – with drug charges down by 91% in the past 3 years! Keltruth’s source was the US Government that released enforcement statistics the Barbados Police refused to release to the public! (HA HA HA!)

Keltruth says that the response to that article was “Tremendous” and we believe them because we linked to the post and sent over a thousand of our readers yesterday morning alone.

Today, Keltruth delivers another broadside against Barbados corruption and institutional incompetence with the news that the United States Embassy in Barbados says that Barbados banks are laundering drug money!

Apparently, diplomats are not supposed to say such things about their host country, or at least be a little more gentle, but maybe the United States is getting a little cranky with the ineffectiveness of our police and the lack of financial crimes investigations.

Read it for yourself in the Keltruth article: US Government – Barbados Banks Can’t Stop Drug Dealers’ Money Laundering!

Whatever is happening over at Keltruth… keep it up. We love it!

Judging by the many thousands of Barbados Free Press readers who have followed story links to Keltruth Blog in the last few weeks alone, it can truly be said that Barbados now has three hard-hitting major blogs. (Barbados Underground, Keltruth Blog, Barbados Free Press)

When the dozens of smaller blogs are added into the equation it is obvious that our island has developed an extremely active and vibrant blogging community that is having real impact in many areas of society. Certainly the two major political parties wouldn’t even have mentioned the words “Integrity Legislation” without the efforts of Barbados bloggers.

Already Barbados Free Press alone far exceeds the online daily readership of the two newspapers with websites: Nation News and Barbados Advocate. Who knows where this will all be in another two years?

Free Speech Rules!

And to tempt us all, Keltruth Blog posted this little teaser about an article not-yet-published…

Coming: Shocking Scandal involving Bank with Barbados HQ.

… coming article at Keltruth Blog


Filed under Barbados, Blogging, Corruption, Crime & Law, Freedom Of The Press, Offshore Investments, Police

23 responses to “United States Embassy Says Barbados Banks Laundering Drug Money!

  1. Tony Hall

    I would like to read the complete report from the US Embassy before I make any comment on this. I do not like to comment based on one or two quotes.

  2. Bimbro

    Have n’t read the entire article, yet, but should think it very, unwise to get on the wrong side of Uncle Sam!!!!

  3. no name

    Not so long ago the US Ambassador in Barbados had to publicly apologise to Barbados for publishing negative information on Barbados on a US Government website. Seems they had published something by mistake about our police which was really meant for another island.

  4. Rumplestilskin

    Money Laundering, its origins and ramifications, the methods used to combat, whether these methods work or do not work, the geograpical relevance of money laundering, the political relevance of money laundering, the socio-economic and taxation impacts of money laundering and the use of money laundering by certain sections of secret services for their own ends, is too much a detailed subject to discuss or draw conclusions from one short report.

  5. Green Monkey

    The war on drugs is a sick joke. Read the article “The UK is protecting the biggest heroin crop of all time”, by Craig Murray a former UK ambassador to Uzbekistan.


  6. 1huge Yaawwwn!

    Tell me about a Bank in any Caribbean country that isn’t (even indirectly) laundering drug money.

    Tell me about a car dealership selling a Rastaman a bigup car that isn’t laundering drugs money.

    Tell me about a Latin American/Caribbean country whose economy wouldn’t entirely collapse
    if (somehow!) the drugs money were suddenly withdrawn from ‘the White Economy’.

    Have you any idea how much loot from the ganja trade
    is now an entrenched part of this island’s economy?
    And what of neighbourly St.Vincent?

    Decades ago I saw written somewhere(probably a hoax)
    that if the cocaine money was withdrawn from the economies of S.American countries like Colombia,Bolivia,Peru
    those countries economies would collapse!
    ..as in Braddam!

    I see no reason to think that things have improved…far less spread
    to my once-innocent islands.

  7. R.Williams & Co.

    Yeah…I would like to see the US report before make any comment.

  8. Thomas Gresham

    The report on the Keltruth Blog is the biggest load of rubbish I have read for some time. Here is a quote for you:

    “A transit country for illicit narcotics, Barbados remains vulnerable to money laundering, which primarily occurs in the formal banking system”.

    My background is in international finance. Money launderers want quick and easy exchange of currency. They will run a thousand miles from any country with exchange controls. They will run ten thousand miles from any country where transactions require central bank approval and where the central bank is applying Basle 2 rules which require capital to be put aside. Money launders go to countries with no exchange controls and no central bank permissioning required. That is BVI, Panama, Monaco, Lichtenstein. It is not Barbados.

    This was written by someone who knows very little about money laundering. It makes me question ofther stuff I have read on that blog.

    The Americans perpetrate this nonesense as trade-protectionsim, trying to defend their financial system from competition from off-shore centres by casting aspersions about money laundering however nonsensical they are. The point to remind them that the biggest examples of money laundering so far has been Russian money through Bank of New York’s New York office and Nigerian money through Zurich. The biggest financial bezzles in the recent past have been dotcom and US sub-prime all carried out through US regulated institutions, amongst others. Interesting too that these regulated institutions spend millions on lobbying US legislators against, amongst other things…..competition form off-shore financial centres.

  9. The quote you referred to was taken verbatim from an agency of the US Government. If it is a “load of rubbish”, you should immediately contact the Bureau of International Narcotics and Law Enforcement Affairs and enlighten them!

    You said that your “background is in international finance”. It would assist your credibility if you gave your credentials.

  10. Treasonous bunch or is it Time Will Tell!

    Divide and Conquer.

    Absolute freaking NONSENSE !

    The validity and factual basis of this crap is so blatantly “void of legitimacy” . it’s a sad shame.

    ONLY Barbados Free Press can find substance in this trash.

    You have so championed the cause for the destruction of our country, that you no longer care.

    You are mercenaries at heart.

    (Barbados Underground, Keltruth Blog, Barbados Free Press) treasonous bunch.


    BFP says,

    To those who are satisfied with 3rd world standards of government, with entrenched elites who stuff their pockets while bankrupting the country… yes, we must seem treasonous!

  11. Bajantease

    Enron and like companies operated under so called 1st world gov’t standards. Their entrenched elites stuffed their pockets while bankrupting the country’s investors and home owners (sorry used to be home owners). A couple were made to dangle as examples but nothing major.. as buyouts and mergers qickly gloss over the image.. othing really changes.

    US VP benefits from Iraq war, contracts etc. noise was made but he’s still there.

    Indeed miles and borders away we are made to pay buy the fall out in little 3rd world B’dos.

    Our “supposed broken 3rd world” system works, is there room for improvement yes, there always is.. but as we now know if you continue to berate a child with negative comments particularly unfairly.. it becomes a self fulfilling activity. The one in a million, becomes the proof that the million is dirty, rather than the exception.

    I’m not satisfied with 1st world standards & douple standards.

  12. Tony Hall

    This is an interesting story.

    FirstCaribbean faces over 100 charges in Belize.

    Belize Chief Magistrate Margaret McKenzie has adjourned the start of the case in which FirstCaribbean International Bank (FCIB) has been accused of failing to report suspicious money transactions between 2001 and 2005.

    FCIB country manager, Glen Smith, appeared in court Tuesday to answer the 113 charges that were laid against the bank earlier this month, following an investigation by the Financial Intelligence Unit (FIU). The case will be called up again on September 4.

    The FIU said that FCIB had contravened the Money Laundering Act. It said that between January and August 2005, the bank did not disclose that it had facilitated the exchange of large sums of money to United States currency.

    A report from the unit disclosed that as much as US$8.5 million could have been withdrawn from the bank in single transactions, of up to US$1 million, by the now dissolved Belize Telecommunications Limited (BTL).

    The investigation also found that FirstCaribbean, headquartered in Barbados, had not kept copies of the processed cheques and facilitated the transactions through two BTL employees who purchased US dollars from money traders on the parallel market.
    Smith said that he had no comment to make on the legal matter.

    “It is sufficient to say that the bank will vigorously defend its good name and its brand,” he said, adding “we are very confident in the justice system of Belize that we will be vindicated”.

    The Chief Magistrate has ordered disclosure of evidence to be presented by September 4.

  13. no name

    Google any major international scam and include the word Barbados in the search phrase – try Enron or AIG.
    The US Government has been gentle on Barbados in its realease.

  14. no name

    To Treasonous bunch or is it Time Will Tell!

    Call the US Government treasonous mercenaries if you want.

    The blogs are reporting the news taken from a US Government document. If there was a mistake made then the US Government will do what it has done in the past and remove the offending information and publicly apologise to Barbados.

    In the meantime, the information is already on the internet for all to see.

  15. cherry2enpowered

    The author’s article is based on US government reports and US agencies. If there’s a problem, the problem is with the US not the writer.

  16. cherry2enpowered

    Aren’t we hypocritical this morning? You blast a blog for being boring but turn around quote and link to it. The primary objective of the blog is to write on a matter close to the author’s heart. If he wish to write on the issue for the next 10 years that’s his prerogative!
    Who are you? The blog police? The standard bearer of blogs? Get off your high horse and stop being so aloof and pernicious.
    Typical america arrogance.

  17. Pingback: » First Caribbean International Bank charged for “failure to report suspicious transactions”! 113 times! Keltruth Corp.: News Blog of Keltruth Corp. - Miami, Florida, USA.

  18. Green Monkey

    Catherine Austin Fitts (a former Assistant Secretary of Housing-Federal Housing Commissioner in the first Bush Administration)
    explains how tremendous profits from the illegal drug trade have over the years been funneled into and has helped prop up the above ground economy.

    Her article is “Narco Dollars for Beginners,How The Money Works In The Illicit Drug Trade” (aka Narco Dollars for Dummies )


  19. 1huge Yaawwwn!

    Of course!
    every lil 5 dollars from a five-bag
    or $10 from a ten-spot that goes to buy sweet drinks and a few groceries at at local(village) retail outlet…is laundered money!
    Small time money ..but laundered money…nickel by nickel, dime by dime!

    We tend to think of ‘Laundered Money’ as anything over 10K
    but I’m willing to bet there are an awful lotta deposits made somewhere around 8-9K,instead.

    Barbados and all dese lil ketchass islands
    should be glad iz ramgoat fuh de drowgs-trade
    bcoz it’s all that’s keeping many a household together!!

  20. 586.213

    Thanks to GreenMonkey for the link to

    It’s a long read, yes..but oh so interesting!

    Makes me think about local(very successful!) FastFood chains..hmmm..

  21. marvinbareback

    Everything known about money laundering is just a question of degree. When VAT tax was first introduced as “consumption” type of tax, the government of the day hugely underestimated the amount of money changing hands in the local economy. Whether it is car washers, jet-ski operators or taxi-men, there is a large amount of unreported income that was being spent. Certainly, some of the income was well above the tax paying thresholds so one could say that was illegal and putting in the bank via a direct deposit or paying bills is also laundering the proceeds of crime. It doesn’t have the same connotation of selling drugs, sex or guns but it is against the law. Ultimately, society determines how detrimental some of the lawbreaking is and devotes time to enforcing the laws of the land. However, it is important to not let hypocritical first world countries determine what the priorities of our nation is when it comes to this. They have more mess to clean up with all the scams, swindles and outright corporate thefts that are on such a vast scale, they should never dare comment on the small amount of it going on in Bim.

  22. Pingback: » Money Laundering: Are accountants and lawyers potentially just as guilty as the criminals themselves? Keltruth Corp.: News Blog of Keltruth Corp. - Miami, Florida, USA.


    ‘Green Monkey’ , awesome link

    Everybody should read this and stop buying in to this ‘war on drugs’ farce.