Financial Crime Enforcement Agencies in Jamaica Credit Strong Partnerships with Success
Jamaica’s Financial Investigations Division (FID) attributes its successful probes to strong partnerships with law-enforcement agencies, both locally and internationally.
The Importance of Partnerships
As the sole law-enforcement agency in the Ministry of Finance and Public Service, FID works closely with local and international bodies to fight financial crimes. The entity investigates a wide range of financial crimes, including:
- Lottery scamming
- Fraud
- Phishing
- Money laundering
According to Brand Communications Specialist Garth Williams, FID pursues evidence-based prosecutions through partnerships with law-enforcement agencies such as:
- MOCA (Major Organized Crime and Anti-Corruption Agency)
- JCF (Jamaica Constabulary Force)
- Jamaica Customs Agency (JCA)
- Financial Services Commission
- Integrity Commission
- Passport, Immigration and Citizenship Agency (PICA)
Internal Collaborations
Internally, FID has forensic examiners working alongside the JCF’s Constabulary Financial Unit, comprised of JCF officers from the Counter Terrorism and Organised Crime Investigation Branch. This collaboration leads to a high rate of success in evidence-based prosecutions.
Most Prevalent Financial Crimes
According to Williams, lottery scamming and money laundering continue to be the most prevalent financial crimes in Jamaica. He noted that persons are getting involved in money laundering by allowing themselves to be used as conduits for transactions, often unknowingly using their bank accounts to support the entry of dirty money into the economy.
Insider Threats
The FID also investigates insider threats through bank fraud, which Williams said has reared its head more frequently in recent times. The agency has achieved successes in combating this type of fraud, where individuals abuse their positions of power and privilege for illicit gain.