Jul 16, 2018 Last Updated 4:12 PM, Jul 11, 2018

The Minister of Finance & the Public Service

The Hon. Nigel Clarke, DPhil., MP...

Minister without Portfolio in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister without Portfolio in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and h...

Financial Secretary (Acting)

Miss Darlene Morrison...

If a financial institution knowingly withheld or failed to report a suspicious transaction, can the institution be penalized?

A financial institution or a regulated business that fails to make a report or comply with a disclosure order commits an offence and is liable upon conviction before a Resident Magistrate Court to a fine not exceeding $400,000.oo

A person who commits an offence to disclose information regarding transactions believed to be related to money laundering knowingly is liable on conviction before a Resident Magistrate Court to a fine not exceeding $1m , or imprisonment for a term not exceeding 12 months or both.

On conviction in a Circuit Court to a fine or imprisonment for a term not exceeding 10 years or to both fine and imprisonment.

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