Financial Crime World

Jamaica Seeks to Boost Financial Crime Prevention Strategies

The Jamaican government has prioritized financial crime prevention as a key strategy in its national security policy to reduce crime and ensure economic growth. According to Minister of National Security, the nation’s safety and security are crucial for achieving expected economic growth and job creation.

Five Pillars for Effective Crime Prevention

The government has identified five pillars to build effective crime prevention strategies:

  • Effective Policing: Strengthening law enforcement capabilities to prevent and combat crime.
  • Swift and Sure Justice Processes: Improving the speed and efficiency of justice systems to reduce crime and promote confidence in the judiciary.
  • Crime Prevention through Social Development: Addressing social and economic factors that contribute to crime, such as poverty, unemployment, and lack of education.
  • Situational Crime Prevention: Targeting specific areas or situations where crime is most likely to occur, such as high-crime neighborhoods or public transportation hubs.
  • Rehabilitation and Redemption: Providing support for individuals who have been involved in criminal activity, with the goal of reintegrating them into society.

Implementation Strategies

To implement these strategies, the Ministry of National Security will engage various departments, agencies, and programs, including:

  • Caribbean Regional Drug Law Enforcement Training Centre (REDTRAC)
  • Citizen Security and Justice Programme
  • Department of Correctional Services
  • Firearm Licensing Authority
  • Jamaica Constabulary Force
  • Private Security Regulation Authority

Community Safety and Public Order

In addition to strengthening law enforcement and judicial systems, the government has emphasized the importance of community safety, public order, and education in preventing financial crime. The ministry will work closely with local communities, businesses, and civil society organizations to develop and implement effective strategies to reduce crime and promote economic security.

Infrastructure Protection

The government is committed to protecting critical infrastructure, including:

  • Water and electricity supplies
  • Hospitals
  • Bridges
  • Ports
  • Government installations

Additionally, the ministry has pledged to enhance cyber security measures to protect personal, business, and state information in cyberspace.

Crisis Response and Resilience

In a comprehensive approach to financial crime prevention, the ministry will also focus on crisis response and resilience, including:

  • Establishing a continuation-of-government protocol
  • National risk management and recovery strategy

By taking a multi-faceted approach to financial crime prevention, Jamaica is committed to ensuring the safety and security of its citizens, while promoting economic growth and development.