YES / NO / DRAFT / IN FORCE / PROPOSED
CREATION OF A CRIMINAL OFFENCE (A.1-C.1) / / The Money Laundering Act, 1996 (No. 30-196), section 3 (1)
FORFEITURE A.2.b (i) / / The Drug Offences (Forfeiture of Proceeds) Act, was amended December 1996 to bring money laundering offences within its scope, thereby facilitating domestically the identification, seizure and forfeiture of proceeds of money laundering offences and property used in connection therewith. Similar amendments to the Mutual Assistance (Criminal Matters) Act in December of 1996, facilitate forfeiture in response to international investigations.
FINANCIAL INFORMATION (sharing of information by competent authorities (A. 3.a (i)) / / The Fourth schedule to the Banking Act sets out the exceptions to the bank secrecy provisions of s.44 of the Act to include cases where the Minister considers it in the public interest and in writing directs disclosure of such information to an agency of a foreign government with which Jamaica has an agreement for the mutual exchange of such information. Similar exceptions to the secrecy provisions of s.42 of the Financial Institutions Act exist in the Fourth Schedule to that Act
FINANCIAL INFORMATION(authorization of financial institutions to provide information to authorities on their clients (C.2. a (i )) / / Section 48 of the Drug Offences (Forfeiture of Proceeds) Act, as amended in 1996, empowers financial institutions to provide information about an account, with protection against liability, to a constable or a Director of Public Prosecutions (DPP) where he or she has reasonable grounds to believe that such information may be relevant to a drug trafficking or money laundering investigation or prosecution or otherwise assist in the enforcement of the Act
FINANCIAL INFORMATION (information exchange between courts/ authorities pursuant to international agreements (a.3.b(i)- C.2.b (i)) / / Provisions to the Fourth Schedule to the Banking Act and to the Fourth Schedule to the Financial Institutions Act permit sharing such information
FINANCIAL INFORMATION (direct information exchange through international agreements ( C.11.)) / / / Under consideration
LEGAL ASSISTANCE, (government authorized to respond to requests for legal assistance from other governments (C.6.)) / / / Jamaica has had a Mutual Legal Assistance in Criminal Matters Treaty with the U.S. since January 1995. This assistance has been extended to money laundering with the enactment of the Money Laundering Act, 1996. Upon the coming into force of the Money Laundering Act, 1996, such assistance will extend to money laundering. Application of the subjects of this treaty which are in relation to investigations and proceedings for criminal law enforcement purposes as well as those provided for under the Mutual Assistance (Criminal Matters) Act, as amended in 1996, can also be provided to any of the 48 Commonwealth states designated under the latter Act / Jamaica is negotiating a mutual legal assistance agreement in criminal matters with the U.K.
LEGAL ASSISTANCE (government authorized to exchange evidence and information in money laundering investigations/prosecutions and for asset forfeiture (C.12.)) / / / Same answer as to preceding question / Same answer as to preceding question
SHARING OF FORFEITED ASSETS (C.7.) / [1]
INVESTIGATIVE TECHNIQUES (C.8.) / [2]
FINANCIAL TRANSACTION RECORDS (requirement to keep and maintain clear and complete records (C.10)) / / Section 46 of the Drug Offences (Forfeiture of Proceeds) Act requires the keeping of prescribed documents and records of transactions for five years. Failure to do so is an offence under the Act
EVALUATION AND RECORD-KEEPING (basis or forum for evaluating funds transfer systems and, on the basis of the evaluation, record-keeping measures for f.i.’s and wire transmitters (D.6)) / [3]
EXTRADITION (C.13.) / / / An extradition treaty with the U.S. permits extradition for an offence punishable under the laws of both states for more than one year. This is also the case with respect to offences in 48 designated Commonwealth countries under the Mutual Assistance (Criminal Matters) Act, 1996, independently of whether there is a treaty between Jamaica and that country / Once the Money Laundering Act, 1996 is in force, persons charged with money laundering offences will be liable to extradition either under the treaty with the U.S. or, in the case of persons charged with such an offence in the 48 Commonwealth countries designated in the Mutual Assistance (Criminal Matters) Act, 1996, independently of a treaty
SUSPICIOUS TRANSACTION REPORTING (D.2.) / / / Sections 7 and 8 of the Money Laundering Act, 1996, provide for the creation of measures necessary to prevent or detect money laundering, including the issuance by a judge on application by the DPP, to direct financial institutions to disclose information or produce documents on accounts when there are reasonable grounds to believe a money laundering offence has been or is about to be committed
LARGE TRANSACTION RECORDING/REPORTING (D.3.) / / / Section 6 of the Money Laundering Act, 1996, imposes on all financial institutions (defined by the Act) a duty to report all transactions involving U.S. $10,000 or the equivalent. Regulations governing transportation of large amounts of currency across national borders are under consideration
REGULATORY/OVERSIGHT AGENCIES (authority to supervise and impose administrative sanctions (D.4.)) / [4]
ANALYSIS AND EVALUATION OF ANTI-MONEY LAUNDERING LAWS AND OF MONEY LAUNDERING METHODS (D.5.) / [5]
NATIONAL FORFEITURE FUND (E.2) / [6]
CENTER FOR THE COLLECTION, ANALYSIS AND SHARING OF INFORMATION (related to money laundering (E.3)) / / / The Asset Forfeiture/Money Laundering Investigative Unit has been established for this purpose / The Money Laundering Act, 1996, provides for the establishment of a designated authority to be named under the regulations, for the collection, analysis and sharing of relevant information
TRAINING (E.5) / / / In collaboration with UNDCP, Jamaica has established the Caribbean Regional Drug Law Enforcement Training Center to serve the needs of 18 Caribbean countries. Part of its approach to money laundering control includes three courses one of which is a four week course on Financial Investigations
[1] Although the reply is no, the response indicates that the governmentis planning to conclude such agreements in the next twelve months.
[2]The response is qualified by the comment that the government intends to seek to obtain judicial approval for such measures as electronic surveillance. Undercover police operations are accepted under the common law and do not require executive or judicial approval.
[3]The response indicates that the government is planning to take action in this regard in the next twelve months.
[4] The response indicates that the government intends to carry out measures in this regard in the next twelve months
[5]Idem
[6]Idem