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Why did Anguilla introduce laws against money laundering in 2000?

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Regional map of the West Indies showing the islands of the Greater and Lesser Antilles, including Cuba, Jamaica, Hispaniola (Haiti and the Dominican Republic), Puerto Rico, and numerous smaller islands. The map uses color shading to indicate elevation, with higher elevations in orange and yellow, and labels major cities and territories, including those administered by the United Kingdom, France, the Netherlands, and the United States. Surrounding bodies of water such as the Caribbean Sea, Gulf o
Anguilla

The government of Anguilla began introducing legislation to combat money laundering in 2000 in response to allegations that the islandā€™s banks were being used for that purpose. These concerns arose following the increasing importance of offshore banking on the island, which had been a significant part of the economy since the 1980s.1