KINGSTON, Jamaica — The House of Representatives, on Tuesday (November 19), approved five Orders under the Proceeds of Crime Act (POCA), as part of measures to combat money laundering.

The five Orders are: the Proceeds of Crime (Designated Non-Financial Institution) (Gaming Machine Operators) Order; Proceeds of Crime (Designated Non-Financial Institution) (Real Estate Dealers) Order; Proceeds of Crime (Designated Non-Financial Institution) (Attorneys-at-law) Order; Proceeds of Crime (Designated Non-Financial Institution) (Casino Operators) Order; and the Proceeds of Crime (Designated Non-Financial Institution) (Public Accountants) Order.

The Orders are intended to include non-financial businesses and professionals after changes to the Act which, among other things, placed a limit of $1 million on cash transactions with financial institutions.

“It was determined by the Government of Jamaica that certain sectors that are outside of the traditional financial sector and in keeping with international requirements and trends, should be subjected to anti-money laundering measures,” National Security Minister Peter Bunting said.

“The reason for this is that criminals often need to use the services of these professions and others to launder their illicit cash. As a consequence, having these professionals being subjected to anti-money laundering measures is in our view, a strong deterrent to launderers, and should also assist law enforcement in tracking assets, where these professionals make the required disclosures under law,” he added.