Jamaica Takes on Financial Crimes with Partnership and Success

Financial crimes such as lottery scamming, fraud, phishing, and money laundering are a significant threat to Jamaica’s economy. To combat these crimes, the Financial Investigations Division (FID) has formed strong partnerships with law-enforcement agencies to investigate and prosecute financial crimes.

Partnerships for Success

The FID works closely with local and international bodies to fight financial crimes. These partners include:

• MOCA
• JCF
• JCA
• Financial Services Commission
• Integrity Commission
• PICA

Internally, the agency collaborates with forensic examiners from the JCF’s Constabulary Financial Unit to gather intelligence and build cases.

Effective Prosecutions

According to Garth Williams, brand communications specialist at the FID, lottery scamming and money laundering continue to be the most prevalent financial crimes in Jamaica. However, the FID has achieved a high rate of success in pursuing evidence-based prosecutions. Many persons have been involved in money laundering crimes by allowing themselves to be used as conduits for transactions, using bank accounts to support the entry of dirty money into the economy.

Insider Threats

The FID also investigates insider threats through bank fraud, which has led to successes and highlighted a growing trend of financial institutions being targeted by individuals abusing their positions of power and privilege for illicit gain. Williams emphasized that it is not just outsiders hacking in, but rather insiders exploiting their positions for personal gain.

Commitment to Combating Financial Crimes

With its strong partnerships and successful investigations, the FID remains committed to combating financial crimes and protecting Jamaica’s economy from illegal activities. By working together with law-enforcement agencies and other stakeholders, the FID is making a significant impact in the fight against financial crimes.