Nov 24, 2017 Last Updated 10:16 AM, Nov 8, 2017

The Minister of Finance & the Public Service

The Honourable Minister Audley Shaw CD, MP, Minister of Finance and the Public Service. He is a graduate of Northern Illinois University (NIU) with a Bachelor of Arts and Master of...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Rudyard Spencer, CD, MP is Minister of State (Public Service), with the Ministry of Finance and Public Service. Minister Spencer studied Industrial Relations at Medg...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister of State in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and holds an M...

What are the responsibilities of financial institutions in combating financial crimes?

It is the responsibility of financial institutions to establish and implant programmes, policies, procedures and controls that are necessary to prevent or detect money laundering. These include;

  • Established procedures to ensure high standards of integrity of employees
  • Evaluation of employees’ personal employment and financial history
  • Training programmes for employees in the recognition and handling of transactions by persons believed to be engaged in money laundering
  • Independent audit to ensure established programmes are being implemented
  • Establish identification and transaction verification procedures and record-keeping procedures in accordance with regulations under the Act.
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