The areas which the Proceeds of Crime Act (POCA) can target are being broadened to increase the prosecution of money laundering offences among certain professional groups.

Financial Investigations Division (FID) Chief Technical Director Selvin Hay, who made the disclosure about targeting certain professional groups, did not identify the targets. However, the Jamaica Observer reported two weeks ago that real estate and used-car dealerships will face greater scrutiny under the country’s anti-money laundering/combating the financing of terrorism (AML/CFT) framework given their high vulnerability to financial crimes.

Hay advised that by broadening the use of POCA, the investigative apparatus of the State will benefit by:

• Removing the benefit (profit) from crime through asset forfeiture;

• Targeting facilitators who through their services allow persons to retain the benefit of crimes;

• Protecting the integrity of the financial system against abuse; and

• To deter persons from engaging in crime

This will be complemented by several strategic activities that have been undertaken as well as policy recommendations made, which should come into effect. Speaking at a recent virtual press conference, the FID boss explained that one such strategic example is an agreement with the Jamaica Constabulary Force (JCF), that will result in a significant increase in the number of police investigators being trained, accredited and appointed as financial investigators to conduct more money laundering investigations across the country.

Also the move will see the incorporation of POCA into the curriculum delivered at the Jamaica Police College as well as further strengthening of the long-standing working relationship. According to Hay, “a similar approach will be taken with MOCA and Jamaica Customs. In fact, as we speak the Financial Investigation Training and Accreditation Programme (FITAP) is presently being delivered online, of which members from the agencies mentioned are participants.”

This programme trains and accredits law-enforcement officers in the full utilisation of the investigative tools available under POCA and other related laws to fully investigate and prosecute cases of money laundering and other financial crimes. The course equips officers with the knowledge of how to conduct other specialised measures to deprive criminals of the proceeds of crime.

In relation to policies aimed at strengthening the country’s AML/ CFT framework, the Ministry of National Security and the Ministry of Finance and the Public Service are collaborating to build out the capacity to identify and prosecute perpetrators of money laundering and other financial crimes.

In addition a comprehensive public education campaign will be rolled out shortly to sensitise the public about the dangers of money laundering and appealing for everyone to join in the fight against this scourge on the society.