The Financial Investigations Division is a Division within the Ministry of Finance and the Public Service which was established on the 16th December 2002. The Division has evolved with time and the objectives now focus on the need to deter the use of Jamaica’s economy for money laundering and other financial crimes thereby contributing to a stable financial sector and an investor friendly environment.
With the passage of the Proceeds of Crimes Act, 2007 has come the increased responsibilities of the Division to grant “consent to perform a prohibited act” to financial institutions – A NEW CONCEPT under this legislation, the increase in investigative powers inter alia and the operation of the Asset Recovery Agency which is charged with the responsibility of managing and maintaining assets seized and forfeited from persons deemed to be in possession of criminal property and this is done on behalf of the Government of Jamaica.
The main objectives of the Division are:
- Investigate allegations of money laundering, financial crimes and corruption.
- Detect, deter and aid the prosecution of offences committed under the various acts dealing with financial crimes, by reducing the actual and expected profits that would evolve from such corruptive practices.
- Collaborate with overseas bodies in fighting transnational crimes under the Mutual Assistance (Criminal Matters) Act.
To deter, investigate and prosecute financial crimes.