Lower House approves amendments of Proceeds of Crime Regulations

The House of Representatives has approved amendments to the Proceeds of Crime Regulations.

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.

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