Public Cautioned about Money Laundering Offences


Money laundering expert, Inspector Carl Berry, has advised the public to exercise caution in dealing with remittances from overseas or clearing goods on behalf of other persons.
“Sometimes we do, acting in good faith, engage indirectly in the process of money laundering. So please be careful,” Mr. Berry warned.
He was speaking at a seminar on money laundering hosted by the Dynamic Executive Professionals Association (DEPA), at the Management Institute for National Development (MIND) in Kingston on Wednesday (July 15).
“Some persons would have left here not within that percentage that can read properly, and call you within a week to say they are working with the World Bank, and they are sending down something for you to clear from the wharf on their behalf,” he instanced.
He explained that money laundering is a process by which the appearance of money/assets/funds obtained from illicit sources, is disguised in such a way that it seems to give legitimacy to the origin of the source.
Inspector Berry, a detective attached to the Organised Crime Investigations Division of the Jamaica Constabulary Force (JCF), said that it is estimated that between US$600 billion and US$1.5 trillion were laundered, globally, last year. He explained that this represents two to five per cent of the world’s Gross Domestic Product (GDP) and the world’s third largest ‘business’. Of the total amount, US$60 billion was laundered in the Caribbean.
He admitted that non-regulated industries, such as the used car sector, are often targeted by money launderers, as well as the music industry and construction business.
The Inspector pointed out, however, that the 18 English-speaking Caribbean countries have similar money laundering legislations which are among the best in the world.
“We, currently, have one of the best legislations existing in the world. I say so because I have worked in some of the countries, and I have seen what they have on show. We are a notch above several other countries,” he said.
“Currently, we have one of the strongest legislations because it captures some of the offences that others don’t. All dangerous drugs act/offences, except possession of drugs are captured. Fraud, corruption, dishonesty, transportation, importation and exportation of arms and ammunition, breaches of the Firearms Act, those are all captured,” he mentioned.
He expounded that in Jamaica, under section 92 (1)

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