BVI: Grenada clamping down on off-shore banks

An after-effect of the Parmalat scandal?

 Grenada's Minister of Finance, Anthony Boatswain, has publicly announced that a review is being carried out of three offshore banks: Imperium Bank, AvantGuard Bank and Cornerstone International Bank and Trust.
     
     Boatswain appeared on local television on Friday, April 26, to announce the reviews, according to three sources on the island.
     
     OffshoreAlert was told that the Ministry of Finance and its accounting representative, PricewaterhouseCoopers, will spend 15 days reviewing the operations of all three banks and will then make a determination as to whether they will be allowed to keep their banking licenses.