Financial Investigation Division
Financial Investigations - Overview
The Financial Investigations Division is a Division within the Ministry of Finance and the Public Service which was established on the 16th December 2002. The Division has evolved with time and the objectives now focus on the need to deter the use of Jamaica’s economy for money laundering and other financial crimes thereby contributing to a stable financial sector and an investor friendly environment. With the passage of the Proceeds of Crimes Act, 2007 has come the increased responsibilities of the Division to grant “consent to perform a prohibited act” to financial institutions – A NEW CONCEPT under this legislation, the increase in investigative powers inter alia and the operation of the Asset Recovery Agency which is charged with the responsibility of managing and maintaining assets seized and forfeited from persons deemed to be in possession of criminal property and this is done on behalf of the Government of Jamaica.
The main objectives of the Division are:
- Investigate allegations of money laundering, financial crimes and corruption.
- Detect, deter and aid the prosecution of offences committed under the various acts dealing with financial crimes, by reducing the actual and expected profits that would evolve from such corruptive practices.
- Collaborate with overseas bodies in fighting transnational crimes under the Mutual Assistance (Criminal Matters) Act.
To deter, investigate and prosecute financial crimes.
Financial Investigations - Units and Sections
The FID consists of five(5) units:
There are two sections in this unit:
1. Intelligence Officers
2. Financial Analysts
The intelligence officers garner data from all sources and convert it to useful information to assist the work of the investigative units. The financial analysts are specially trained to identify trends in financial transactions from reports filed under the Money Laundering Act.
Financial Crimes Investigations (FCI)
This unit investigates serious financial crimes such as money laundering and any matter that affects the stability of the economy and the financial sector. The aim of the FCI is to identify assets gained from the perpetration of criminal activities with a view to depriving the individual of such ill-gotten gains.
The FCI provides investigative support to the police, specifically the Narcotics Division, Customs, Inland Revenue Department, Overseas Law Enforcement Agencies and the Major Crimes and Counter Narcotics Taskforce. The unit also has responsibility for the management of forfeited and seized assets
This unit provides information technology support for the operation of the division while providing support to the investigative units in the form of computer forensics and data mining.
Planning and Administrative Services
This unit performs all the administrative functions for the Division including human resource and training matters, facilities management and accounting support.
This unit provides legal support and advice on cases being investigated by the Division. They prepare legal documents and review case files before submission to Director of Public Prosecution/Clerk of Courts.