Mixed response to UK recommendations
The British run Caribbean territories have given mixed response to a UK government backed financial report telling them to implement tighter regulations to deal with money laundering, tax evasion and the financing of terrorism.
Although they welcomed the report they are concerned about the costs of some of the recommendations.
The report which was led by former Bank of England director Sir Michael Foot also warns that Britain may have to foot the bill for any failures of firms in the offshore dependencies.
