Cybercrime Soars on Montserrat: Police Force Reports Rise in Financial Crimes

The Royal Montserrat Police Force’s Financial Crime Analysis Unit has sounded the alarm on a significant increase in financial crimes on the island, with money laundering, fraud, and electronic crimes wreaking havoc on the local economy.

Threat to Local Economy

According to the Government of Montserrat’s National Performance Report 2020/21, these criminal activities pose a major threat to the island’s development. The report highlights the pressing need for robust measures to combat financial crime and ensure good governance on the island, as outlined in goal 4 of the Government’s National Performance Report.

Investigations into Suspicious Transactions

In a shocking revelation, the Unit revealed that it had only conducted six investigations into suspicious transactions out of a targeted 14 during the reporting period. While this may seem like an under-performance at first glance, officials pointed out that investigations can only be initiated once reports are deemed “credible” by the Unit.

Key Findings

• The Financial Crime Analysis Unit reported a significant increase in financial crimes on the island
• Money laundering, fraud, and electronic crimes were identified as major threats to the local economy
• Only six investigations into suspicious transactions were conducted out of a targeted 14 during the reporting period
• Investigations can only be initiated once reports are deemed “credible” by the Unit

Conclusion

The rise in financial crimes on Montserrat highlights the need for robust measures to combat these criminal activities and ensure good governance on the island. The Government’s National Performance Report emphasizes the importance of addressing this issue, and we can expect further efforts to combat financial crime in the coming years.