On 9 September 2021, the US Internal Revenue Service (IRS) presented the Offshore Tax Evasion Case Study training course to the Grenada Inland Revenue Division and Financial Intelligence Unit.
The course incorporated multiple areas of transnational financial crimes specific to offshore banking schemes, tax evasion, and Klein conspiracy, while specifically focusing on an offshore tax evasion investigation involving a complex yet classic pyramid scheme. The course also highlighted how international efforts, such as the Offshore Voluntary Disclosure Initiative (OVDI) and the Foreign Account Tax Compliance Act (FATCA), aid in combating tax evasion and serve to dismantle and disrupt a criminal conspiracy built upon greed. The training session generated intense discussions about conducting investigations to secure the Grenada tax system and financial system.
At the opening of the event, Randy Boyke, Deputy Comptroller, Ministry of Finance Inland Revenue Division of Grenada, and Leticia James, Deputy Constable, Financial Intelligence Unit Grenada welcomed training participants. Principal Officer US Embassy Grenada Karl Duckworth addressed the financial professionals, “As international criminals develop more sophisticated techniques, everyone benefits from sharing information on how to detect, investigate, and ultimately bring to justice lawbreakers.” Duckworth continued, “As Grenada continues to grapple with the real challenges presented by Covid, it is a testament to the hard work and dedication of the revenue collection and financial professionals from the United States and Grenada that they were able to hold this important training safely online. We all look forward and pray for the day when it is safe to conduct international exchanges like this in person. Meanwhile, the United States will continue to be a friend to Grenada in these trying times.”
US Embassy Barbados
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