Rise in suspicious transactions seen at money transfer agencies

The Financial Intelligence Unit (FIU) has been receiving a growing number of suspicious transaction reports from money transfer agencies, according to Director Matthew Langevine, who says criminals are using “the regular man on the street” to launder their dirty money for them.

“We have seen students being used to send monies through these money transfers agencies, housewives, unemployed persons, etc. We want to encourage the public at large to be vigilant against these activities and not to get caught up in these activities,” Langevine was quoted as saying by the Department of Public Information (DPI) on Friday.

The DPI report noted that for 2018 alone, the FIU received 330 suspicious transaction reports, the majority of which came from money transfer agencies. For 2019, there have been 120 suspicious reports made to the unit, with a high per cent also coming from the money transfer entities…..