Strengthening Compliance Training for Financial Institutions in Grenada
Enhancing Efforts Against Money Laundering and Terrorist Financing
The Financial Intelligence Unit (FIU) in Grenada has launched an interactive website aimed at providing essential information and updates on anti-money laundering and counter-terrorist financing matters. The site is designed to facilitate collaboration with local, regional, and international stakeholders.
The FIU’s Mandate
As part of its mandate, the FIU plays a crucial role in preventing and detecting financial crimes by:
- Collecting suspicious transaction reports
- Seizing proceeds of crime
- Investigating cases
- Advising financial institutions on their obligations to detect and prevent money laundering and terrorist financing
The Importance of Compliance Training
The FIU’s Head emphasized the importance of compliance training for financial institutions in Grenada, stating that it is essential for preventing and detecting financial crimes. “We recognize the critical role that financial institutions play in our fight against money laundering and terrorist financing,” said the Head. “By providing them with access to timely information and updates, we aim to strengthen our platform for collaboration and cooperation with local, regional, and international partners.”
The New Website
The website is designed to be user-friendly, with supporting links to facilitate easy navigation and interaction. The FIU hopes that this initiative will enhance its efforts towards a secure financial sector in Grenada.
Key Features of the Website:
- Essential information and updates on anti-money laundering and counter-terrorist financing matters
- Supporting links for easy navigation and interaction
- Facilitates collaboration with local, regional, and international stakeholders