Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Headlines
    3. >Exclusive-Trump ally Erik Prince plans to keep personnel in Haiti for 10 years to fight gangs and collect taxes
    Headlines

    Exclusive-Trump Ally Erik Prince Plans to Keep Personnel in Haiti for 10 Years to Fight Gangs and Collect Taxes

    Published by Global Banking & Finance Review®

    Posted on August 14, 2025

    5 min read

    Last updated: January 22, 2026

    Add as preferred source on Google
    Exclusive-Trump ally Erik Prince plans to keep personnel in Haiti for 10 years to fight gangs and collect taxes - Headlines news and analysis from Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:securityfinancial servicesInternational tradetax administrationinvestment

    Quick Summary

    Erik Prince aims to stabilize Haiti by fighting gangs and reforming tax systems over a decade, involving Vectus Global and international forces.

    Erik Prince's 10-Year Plan to Combat Gangs and Collect Taxes in Haiti

    By Anna Hirtenstein and Sarah Morland

    Erik Prince's Long-Term Strategy in Haiti

    (Reuters) -The prominent Donald Trump supporter and private security executive Erik Prince says he has a 10-year deal with Haiti to fight the country's criminal gangs, and then take a role in restoring the country's tax-collection system.

    Role of Vectus Global

    In an interview with Reuters, Prince said his company, Vectus Global, would be involved in designing and implementing a program to tax goods imported across Haiti's border with the Dominican Republic once the security situation is stabilized.   

    Challenges Faced by Security Firms

    He said he expected to wrestle control of major roads and territories from the gangs in about a year. “One key measure of success for me will be when you can drive from Port-au-Prince to Cap Haitian in a thin-skinned vehicle and not be stopped by gangs,” Prince said in the interview.

    International Response and Support

    Prince would not comment about how much the Haitian government would pay Vectus Global, nor how much tax he expects to collect in Haiti.

    The new president of the transitional council, Laurent Saint-Cyr, who was inaugurated on August 7 as part of a planned rotation of council leaders, did not respond to requests for comment. Haiti's former council president and prime minister also did not respond to requests for comment.

    Vectus began operating in Haiti in March, deploying mainly drones in coordination with a task force led by the prime minister, but the long-term engagement and the involvement in tax collection have not been previously reported.

    A person familiar with the company's operations in Haiti told Reuters that Vectus would intensify its fight against the criminal gangs that control large swathes of Haiti in the coming weeks in coordination with the Haitian police, deploying several hundred fighters from the United States, Europe and El Salvador who are trained as snipers and specialists in intelligence and communications, as well as helicopters and boats. Vectus's force includes some French and Creole speakers, the person said.  

    Prince, a former U.S. Navy Seal, founded the Blackwater military security firm in 1997. He sold the company in 2010 after Blackwater employees were convicted of unlawfully killing 14 unarmed civilians while escorting a U.S. embassy convoy in Baghdad's Nisour Square. The men were pardoned by Trump during his first term in the White House.

    EXPANDING ROLE

    Since Trump's return to the White House, Prince has advised Ecuador on how to fight criminal gangs and struck a deal with the Democratic Republic of Congo to help secure and tax its mineral wealth.   

    “It’s hard to imagine them operating without the consent of the Trump administration,” said Romain Le Cour Grandmaison, head of the Haiti program at Geneva-based Global Initiative Against Transnational Organized Crime.

    When asked for comment about Le Cour Grandmaison's assertion, a State Department spokesperson said it has not hired Prince or his company for any work in Haiti.

    A senior White House official said:  "The U.S. government has no involvement with the private military contractor hired by the Haitian government. We are not funding this contract or exercising any oversight.”  

    It's unclear whether Prince's contract would be affected by the change of leadership in Haiti earlier this month.   

    In an August 7 televised address, Saint-Cyr said he welcomed more international support to fight the gangs. “I am inviting all the international partners to increase their support, send more soldiers, provide more training,"  he said. "Help us with a more robust international force.”

    The crisis in Haiti has worsened in recent years, as armed gangs gained territory and attacked hospitals, police stations and prisons, taking control of strategic transport routes and extorting funds from the population. Rights groups accuse the gangs of massacres, rapes, kidnappings and arson. About half the population is food-insecure and over 8,000 people in displacement camps face famine-level hunger.

    Haiti used to collect half of its tax revenue at the border with the Dominican Republic, but gang control of key transport routes has crippled trade and cut off state income, a report commissioned last year by Haiti's government and several multilateral organizations found. This has undermined the government's ability to respond to the crisis or deliver basic services, the report said.

    The Dominican Republic is a key source of grains, flour, milk, water and other food staples for Haiti, according to customs data. Haiti also relies on imports from the Dominican Republic for textiles, consumer goods, and medical supplies.

    Security contractors working in Haiti have faced challenges operating in a country with entrenched links between the gangs, local police and some factions of the government.

    Earlier this year, a team from American security firm Studebaker Defense abandoned their mission in Haiti after two of their members were abducted, likely due to corrupt police officials, the New York Times reported. 

    Mounir Mahmalat, who serves as a country coordinator of the World Bank's Fragility, Conflict and Violence Group, said that it was virtually impossible to ensure the safe transport of goods or the security of people working in Port-au-Prince.

    Other security firms working in Haiti have raised questions about how Vectus would hold onto cleared gang territory as well as the wisdom of channelling resources to private security firms instead of the country's own security forces.

    "Resorting to private military companies cannot be seen as a solution to insecurity in Haiti,” said Gedeon Jean, head of Haiti’s Center for Human Rights Analysis and Research. “The use of private companies has often resulted in human rights violations.”

    While a private force could help police restore security, Jean warned against large spending on a foreign company while Haiti's own security forces lack funds and equipment.

    (Reporting by Anna Hirtenstein in London, Sarah Morland in Mexico City and Harold Isaac in Port au Prince. Editing by Suzanne Goldenberg)

    Table of Contents

    • Erik Prince's Long-Term Strategy in Haiti
    • Role of Vectus Global
    • Challenges Faced by Security Firms
    • International Response and Support

    Key Takeaways

    • •Erik Prince plans a 10-year operation in Haiti.
    • •Vectus Global to combat gangs and collect taxes.
    • •Coordination with Haitian police and international forces.
    • •Involvement of drones, snipers, and specialists.
    • •Prince's past with Blackwater and Trump administration ties.

    Frequently Asked Questions about Exclusive-Trump ally Erik Prince plans to keep personnel in Haiti for 10 years to fight gangs and collect taxes

    1What are criminal gangs?

    Criminal gangs are organized groups that engage in illegal activities, such as drug trafficking, extortion, and violence. They often control territories and can undermine local law enforcement.

    2What is security in the context of finance?

    In finance, security refers to a financial instrument that holds monetary value, such as stocks, bonds, or options, and can be traded. It represents an ownership position or creditor relationship.

    3What is a private security firm?

    A private security firm is a company that provides security services, including personnel and technology, to protect property, assets, and individuals, often in areas where public law enforcement is insufficient.

    More from Headlines

    Explore more articles in the Headlines category

    Image for Iranian strikes pose ‘existential threat’, Gulf states tell UN
    Iranian Strikes Pose ‘existential Threat’, Gulf States Tell UN
    Image for Russia says it remains in contact with US on Ukraine settlement
    Russia Says It Remains in Contact With US on Ukraine Settlement
    Image for Putin allies Lukashenko and Kim meet in North Korea
    Putin Allies Lukashenko and Kim Meet in North Korea
    Image for Denmark's Frederiksen faces tough coalition talks to remain prime minister
    Denmark's Frederiksen Faces Tough Coalition Talks to Remain Prime Minister
    Image for UK police arrest two men over arson attack on Jewish community ambulances
    UK Police Arrest Two Men Over Arson Attack on Jewish Community Ambulances
    Image for Cricket-Bairstow joins Livingstone in criticising level of care in England set-up
    Cricket-Bairstow Joins Livingstone in Criticising Level of Care in England Set-Up
    Image for Mullally to be installed as first female Archbishop of Canterbury
    Mullally to Be Installed as First Female Archbishop of Canterbury
    Image for Cyprus seeks new security deal for UK bases, Telegraph reports
    Cyprus Seeks New Security Deal for UK Bases, Telegraph Reports
    Image for British army veteran completes record 100km Land Rover pull
    British Army Veteran Completes Record 100km Land Rover Pull
    Image for Pope Leo laments that Iran war 'getting worse and worse'
    Pope Leo Laments That Iran War 'getting Worse and Worse'
    Image for Denmark's left-wing bloc leads election but lacks majority, exit polls show
    Denmark's Left-Wing Bloc Leads Election but Lacks Majority, Exit Polls Show
    Image for Moldovan parliament backs energy state of emergency after power line put out of action
    Moldovan Parliament Backs Energy State of Emergency After Power Line Put Out of Action
    View All Headlines Posts
    Previous Headlines PostWhich Donald Trump Will Negotiate With Putin in Alaska?
    Next Headlines PostZelenskiy Says Ukraine Has Secured $1.5 Billion From European Allies for US Weapons