on money laundering.

They decided to share the seized assets of drug traffickers and promised to consider changing bank secrecy laws.

Representatives from 21 Latin American and Caribbean countries, including Venezuela and Colombia, agreed on a regional action plan following a two-day conference in Kingston last week.

The countries said they would revise local forfeiture laws so that assets seized from drugs traffickers could be shared among countries participating in the investigations.

Offshore banking centres such as the Bahamas and the Cayman Islands also promised to consider amending their bank secrecy laws to allow for the reporting of unusual or suspicious transactions.

Bermuda did not attend the conference but would probably go to further meetings, said Finance Minister the Hon. David Saul.

Bermuda did not have a money laundering problem, he said, and was ahead of other countries with laws on seizing drug money.