The US Embassy has the State Department’s 2008 INSCR report. Here is a quote from Volume II: Money Laundering and Financial Crimes that describes Suspicious Activity Reports (SARS):

Financial institutions are required to report transactions when the entity has reasonable grounds to suspect the transaction involves the proceeds of crime; involves the financing of terrorism; or is suspicious in nature. In cases where the FIU [Barbados Financial Intelligence Unit] suspects a transaction involves the proceeds of crime, the FIU will forward the report for further investigation to the Commissioner of Police. As of June 30, 2007, the FIU had received 56 SARs; none were referred to the Commissioner of Police. Government entities and financial institutions are required to provide the FIU with information requested by the Director of FIU. The Royal Barbados Police force pursues all potential prosecutions.

 

SARS Data for the Past Few Years

  • 2005: there were 84 suspicious activity reports (SARS) to the Financial Intelligence Unit (FIU), but no mention was made of any being reported to the Royal Barbados Police Force (RBPF). INSCR 2006

  • 2006: there were 41 SARS and 2 were referred to RBPF. INSCR 2007

  • 2007: As of June 30, 2007, the FIU had received 56 SARs; none were referred to RBPF. INSCR 2008

For visual impact, I have plotted the number of SARS reported to FIU next to the number of SARS that were referred to the RBPF. This is for the years 2005 - 2006. The column of SARS actually reported to the police is almost invisible, it is so short.

 

Conclusion

Of the 181 suspicious activity reports filed with the Financial Intelligence Unit, only 2 are know to have been referred to the Royal Barbados Police Force. I have not seen any reports of any convictions. Based on my experience with RBPF, I am not optimistic. Last year, a complaint was filed with the Barbados police about violent threats my mother and I were receiving. I was most dissatisfied with their investigation. They were ineffective. I am not the only one unhappy with the RBPF. Here is a snip from the contact page of the web site of the Royal Barbados Police Force:

 

Notice that there are no names, no telephone numbers, no email links and no addresses on this page. Is RBPF sending us a subtle message? - “Don’t call us. We will call you!”¬† Is the Barbados Offshore business environment effectively regulated, or is it extremely permissive?