Latest News

Shaw urges real estate practitioners to support anti-money laundering efforts

Wednesday, October 10, 2018

Print this page Email A Friend!


KINGSTON, Jamaica — Minister of Industry, Commerce, Agriculture and Fisheries, Audley Shaw, has urged stakeholders in the real estate industry to continue their drive to support the Anti-Money Laundering (AML) legislation and enforcement initiatives of the Government.

Speaking on behalf of Prime Minister Andrew Holness at the 30th Anniversary Banquet & Awards Ceremony of the Real Estate Board (REB), held at the Spanish Court Hotel in New Kingston on Saturday, Shaw noted that real estate is a one of the areas that readily comes into contact with individuals who may be seeking to circumvent the law.

He acknowledged that the board and its colleague associations have checks and balances in place, but urged them “to be relentless in this regard and take a zero tolerance approach to any inklings that run counter to the law”.

“Our culture of informality may incite some amount of resistance to these regimes, especially AML, but I urge you, as regulator and practitioners, to stand your ground in support of nation building,” the minister said.

He commended the REB for its requirement that all dealers and salesmen take AML courses and make the necessary reports to the REB and the Financial Investigative Division and urged the board to keep up and strengthen its enforcement and training initiatives, where necessary.

“We cannot sit by and allow unscrupulous individuals to poke holes in the mechanisms designed to ensure a healthy financial service sector or our economy,” stated Shaw.

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

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 Some comments may be republished on the website or in the newspaper � email addresses will not be published.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
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT