KINGSTON, Jamaica — In light of a recent court ruling in which Alliance Investment Management Limited  (AIML) was cleared of all Proceeds of Crime Act (POCA) charges, the Financial Investigations Division (FID) says it remains committed in its efforts to recover “the full benefits” obtained by Alliance Finance Limited (AFL) from the offences for which it was convicted.

In a release on Friday, the FID said that while it respects the court’s ruling, it will continue working with its law enforcement and regulatory partners to “uphold the integrity of Jamaica’s financial sector.”

AIML was charged with failure to file threshold transaction reports in breach of Section 3 (1) of the Act.

The company was accused of failing to file cash transactions of, or exceeding US$15,000 or its equivalent in any other currency to the designated authority, which is the chief technical director of the FID.

The 17 charges were dismissed Thursday afternoon when Senior Parish Court Judge Chester Crooks upheld a no-case submission filed by defence attorneys, King’s Counsel Tom Tavares-Finson and Sean-Christopher Castle.

READ: Alliance Investment Management cleared of POCA charges

In their statement following the ruling, the FID said it remains steadfast in its mission to “deter the use of Jamaica’s economy for financial crimes.”

“We remain dedicated to identifying, investigating, and prosecuting financial crimes to protect our nation’s economy,” the release read in part.

The agency also sought to use the opportunity to remind stakeholders in the financial sector of their obligations to adhere to the provisions of the rules governing their operations. It shared that, “failure to comply poses risks of tainted funds entering the financial system, with far-reaching negative consequences.”