Lawmakers Pass Amendments to Three Money Laundering Acts
Parliamentary lawmakers have passed three amendments to the Money Laundering Act. The initiative was supported by pro-government lawmakers and members of the opposition. The amendments were to close gaps in the laws against illegal money for corruption and terrorism.
The Amendments Included;
- The Money Laundering Prevention (Schedule) Order 2022,
- The Money laundering Prevention (Amendment) Regulations 2022 (S.R.O 26 of 2022),
- The Proceeds of Crime – Trusts and Non-Profit Organizations (Amendment) Regulations 2022 (S.R.O 25 of 2022), and
- The Proceeds of Crime Anti-Money laundering and Suppression of Terrorist Financing (Amendment) Code of Practice 2022 (S.R.O 27 of 2022).
The Minister for National Security and Home Affairs, Rayburn Blackmoore, said the amendments will tighten the noose on illegal money and strengthen anti-money laundering frameworks in the country. Prime Minister Roosevelt Skerrit who was also present in parliament during the procedure stated that the amendments became necessary to standardize anti-money laundering legislations under one umbrella as obtainable in other countries around the world.
According to Skerrit, regional and international nations credit Dominica’s DLP administration for their concerted fights against money laundering and financial corruption. He said the government will do more with the recently amended acts to block illicit funds for terrorism and to send corrupt government officials to jail. He noted that his government will be stricter at enforcing the laws from now on with the newer laws.
Opposition Leader Lennox Linton also applauded the amendments to the Money Laundering Acts and tasked the government to do more to implement the laws. He accused the Skerrit government of paying lip service to enforce the law, saying the Office of the Prime Minister must take the lead in bringing corrupt government officials and private players to justice. Linton said national and regional nations are not safe where money laundering remains unchecked for terrorism, prostitution, crime, and economic sabotage.
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