Grenada Cracks Down on Terrorist Financing with Sweeping Legislative Regime

The Grenadian government has taken a significant step in combating money laundering and terrorist financing by passing three key pieces of legislation. These new laws form a comprehensive framework aimed at purging the country’s financial system of illegal activity.

Key Legislation

Proceeds of Crime Act 6 of 2012

Financial Intelligence Unit Act 14 of 2012

Terrorism Act 16 of 2012

These three acts work together to establish a robust Financial Intelligence Unit (FIU) responsible for collecting and analyzing information to identify and disrupt illicit financial flows. The government has also prioritized training for law enforcement agencies, ensuring that they have the necessary skills and expertise to effectively investigate and prosecute criminal activity.

A Strong Message

The legislation sends a strong message to criminals that they will not be able to benefit from their illegal activities. The authorities are now better equipped to trace and seize the proceeds of crime, making it clear that the government is committed to tackling money laundering and terrorist financing.

Protecting Financial Stability and Security

This new legislative regime marks an important step forward in protecting the financial stability and security of Grenada. By strengthening its anti-money laundering and counter-terrorism measures, the government demonstrates its commitment to ensuring a safe and secure financial environment for all citizens.