Underreporting on suspicious activity makes case for APNU amendments, Harmon says

The Donald Ramotar administration is still not sold on APNU’s proposed amendments to anti-money laundering laws, which the main opposition argues are justified by the failure of the Financial Intelligence Unit (FIU) to file more than a single report on suspicious activity in  five years.

At a briefing held yesterday at the National Communications Network studios, government members of the parliamentary select committee charged with revising the legislation maintained their no compromise stance on the APNU amendments, even as they skirted around questions about the lack of prosecutions under the current law.

Although the Anti-Money Laundering and Countering the Financing of Terrorism Act 2009 provides for the FIU to report to the Director of Public Prosecutions (DPP) suspicious transactions, once there are reasonable grounds to suspect that the transaction involves money laundering, …..To continue reading, login or subscribe now.



Join the Conversation

After you comment, click Post. If you're not already logged in you will be asked to log in or register.

The Comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit/delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity. We moderate ALL comments, so your comment will not be published until it has been reviewed by a moderator.