Letters to the Editor

Are our bankers blind to dirty money?

Thursday, May 18, 2017

Print this page Email A Friend!

Dear Editor,I just opened an account in a local branch of a bank and I was horrified by the level of scrutiny given to me, a law-abiding citizen. It seems as if banks are prepared to inconvenience the honest 90 per cent in order to catch the dishonest, criminal 10 per cent.

But I know that scammers in Montego Bay open bank accounts and have nothing like my antecedents in the financial industry. How does this happen if account opening procedures are so strict?

One wonders whether when a bank manager notices a significant increase in deposits at his branch, if he/she calls for the applications of the holders of suddenly inflated accounts, and sees illiterate writing and the absence of antecedents, does he/she feel compelled to freeze those accounts and report account holders to the authorities?

A billion US dollars is said to have entered Jamaica in the last few years as a result of scamming. Are our bankers blind? Is this why US and UK banks want to discontinue correspondent bank services because they have reservations about our honesty?

The US Embassy has threatened to extradite lawyers who facilitate scammmers' money within the financial system. My question is whether the US is prepared to extradite bankers, who are the more proximate facilitators of scammer finances?

Sure, a lot of dirty Russian money may be laundered in London, but the day people start being shot in the streets of London, and the authorities connect the murders to dirty money, they will jail those dirty bankers in a heartbeat.

What of Jamaica's bankers who seem blind to dirty money?

Susan Allen





1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon