Title: Young Jamaicans Driving Surge in Financial Crimes: A Worrysome Trend and the Fightback

warren.bertram@rjrnews.com

Kingston

Financial crimes have been a persistent issue in Jamaica, contributing significantly to a weak economy and perpetuating poverty. A recent study, however, has revealed an alarming trend: an increasing number of young people are becoming involved in these illicit activities.

A Growing Concern: Young People Involved in Financial Crimes

According to the report, young people aged between 18 and 30 are the largest demographic group involved in financial crimes. The findings are not unique to Jamaica as similar trends have been observed in other developing countries (United Nations Office on Drugs and Crime, 2019).

The Root Causes

The experts attribute the root causes to the following factors:

1. High unemployment rates
2. Rising poverty levels
3. Limited access to education and financial services
4. Increased use of technology to commit cybercrimes

Jamaica’s Response: Launching a Financial Crime Unit

In response to this trend, the Jamaican government launched a financial crime unit. The unit:

1. Will be responsible for investigating and prosecuting financial crimes.
2. Is made up of specially trained officers.
3. Has already begun its work, focusing on identifying and apprehending those responsible.

Deputy Commissioner of Police, Marion Gibson, comments, “We cannot ignore the fact that our youth are being lured into these activities. We must take responsibility to prevent it from happening. We need to create the right conditions for them to succeed, starting with education and meaningful employment opportunities.”

Raising Awareness among Young People

Simultaneously, organizations such as the Jamaica Financial Services Commission are reaching out to schools and communities to educate students on ethical business practices.

A Collaborative Effort

As this battle requires a multifaceted approach, the fight against financial crimes in Jamaica will require a concerted, coordinated effort from:

1. Government
2. Organizations
3. Civil society

Acknowledging the issue and investing in prevention measures are crucial steps towards breaking the cycle of financial crimes and ensuring a better future for the young people involved.