Montserrat Sees Rise in Corporate Financial Crime Cases

The Royal Montserrat Police Force’s Financial Crime Analysis Unit has reported a significant increase in financial crimes on the island of Montserrat. According to the Government of Montserrat’s National Performance Report 2020/21, money laundering, fraud and electronic crimes are on the rise, posing a major threat to the island’s development.

Financial Crimes on the Rise

The report reveals that financial crimes have become a growing concern for the government. Money laundering, fraud, and electronic crimes have increased significantly, putting the island’s economy at risk. The Financial Crime Analysis Unit is working tirelessly to investigate these crimes and bring perpetrators to justice.

Investigation Numbers

Despite setting a target to investigate 14 suspicious transactions during the period, the unit only conducted six investigations. While this may seem like an under-performance at first glance, officials clarified that investigations only commence once reports are deemed “credible” by the unit.

Goal 4 - Good Governance

This development falls under goal 4 - Good Governance - in the Government of Montserrat’s National Performance Report 2020/21. The government is committed to ensuring good governance and transparency in all its dealings, including financial transactions.

Key Takeaways

• Financial crimes are on the rise in Montserrat, posing a major threat to the island’s development.
• Money laundering, fraud, and electronic crimes are among the most common types of financial crimes reported.
• The Royal Montserrat Police Force’s Financial Crime Analysis Unit is working to investigate these crimes and bring perpetrators to justice.

References

[1] Government of Montserrat. (2020/21). National Performance Report 2020/21.