The House of Representatives has approved amendments to the Proceeds of Crime Regulations.
Lower House approves amendments of Proceeds of Crime Regulations
7:40 am, Thu November 7, 2019
The regulations are aimed at strengthening the integrity of Jamaica's domestic financial system.
The legislation is being amended to make it fully compliant with the Financial Action Task Force, and effective in the efforts of law enforcement and other stakeholders to stem money laundering.
National Security Minister Dr. Horace Chang said the regulations will allow for the application of different layers of risk assessment.
It will also improve the ease of doing business as well as facilitate greater inclusion of a wider cross section of Jamaicans in the local financial sector.