Jamaica’s senate approves anti-money laundering legislation

The Jamaican Senate approved amendments to the Proceeds of Crime Act and the Terrorism Prevention Act on Friday.

Senator Kamina Johnson Smith

The Proceeds of Crime (Money Laundering Prevention (Amendment) Regulations Resolution was passed with the support of the Opposition.

Leader of Opposition Business Senator Donna Scott Mottley and her colleagues, however, objected to sections of the amendments in the Terrorism Prevention (Designated Reporting Entity (Attorney-At-Law) Order, Resolution 2019.

Passed with a ‘divide’

It was eventually passed with a ‘divide’ that ended with a 10-six government majority for the amendments. Four Senators were absent.

The Opposition senators argued that the Jamaica Bar Association had taken with some of the proposed amendments to court. They asked that the amendments wait until the court decides.

Leader of Government Business, Senator Kamina Johnson Smith, however, said the amendments were in keeping with recent activities in both Houses of Parliament, which will allow Jamaica to comply with asset guidelines and monitoring regime of anti-money laundering and counter financing of terrorism regimes in the financial system.