Barbados has been ranked among the leading countries in the world regarding fighting financial crime.
International advisory firm Secretariat has Barbados at 19 out of 177 countries on the inaugural 2025 Secretariat Economic Crime Index (SECI) which was published earlier this month.
St Vincent and the Grenadines (14) and Dominica (17) are the two Caribbean countries ranked higher than Barbados on the SECI, which is topped by Finland.
The other countries on the index in order of ranking after Finland and excluding Barbados, St Vincent and the Grenadines and Dominica are Denmark (2), Iceland (3), Luxembourg (4), Estonia (5),
New Zealand (6), Norway (7), Sweden (8), Uruguay (9), Australia (10), Singapore (11), Lithuania (12), Canada (13), Switzerland (15), Ireland (16), and Slovenia (18).
Barbados and these other countries are in the Transparent Titan top tier of the SECI, which is published in the Global Financial and Economic Crime Outlook 2025 report from Secretariat. This reflects their “levels of transparency, the effectiveness of their anti-crime frameworks, and their overall exposure to economic crime”.
“These nations demonstrate transparency, robust anti-financial crime frameworks, and strong enforcement mechanisms, positioning them as leaders in preventing financial crime,” the publication states.
“Finland, Denmark, Iceland, Luxembourg, and Estonia rank among the best-governed nations, with strict financial regulations and low corruption levels.”
The second tier is Vigilant Players, a group that includes St. Lucia (rank 30, score 1.68), Grenada (rank 34, score 1.72), the Bahamas (rank 39, score 1.77), Trinidad and Tobago (rank 55, score 1.97), Cuba (rank 70, score 2.09), Jamaica (rank 73, score 2.11).
Secretariat said these countries “actively implement and evolve measures to address financial crimes and improve regulatory frameworks, proactively strengthening their systems against emerging risks”.
Guyana (rank 93, score 2.29) is among the Reactive Reformers group, which are countries that “exhibit weak anti-crime frameworks, significant regulatory gaps, and a higher prevalence of high-risk activities, facing challenges in effectively combating financial crimes due to insufficient regulatory measures”.
The Regulatory Laggards category includes Haiti (rank 170, score 3.08). This group, which has Myanmar ranked last at 177 with a score of 3.31, comprises nations that are “characterised by the dominance of illicit financial flows, deeply ingrained corruption, and systemic economic crime, rendering them vulnerable to widespread financial crime that often forms a core part of their functioning”, the Secretariat said.
Secretariat managing director Bhavin Shah said he report was published at a time of “significant regulatory flux”.
“Rising economic protectionism, including the resurgence of tariffs and shifting geopolitical priorities, is reshaping enforcement agendas in key jurisdictions. While its long-term effects remain uncertain, the move reflects a broader trend of enforcement recalibration,” he noted.
“These developments underscore the importance of proactive and globally attuned risk assessment.
In today’s volatile markets, basic risk checks are insufficient. You require a clear, objective understanding of potential threats. Our report delivers precisely that, providing an in-depth financial and economic crime risk evaluation.”Shah said his firm estimates that money laundering “could surge between US$4.5 trillion [and]
US$6 trillion by 2030, underscoring the imperative for robust, data-driven risk assessments”.
