St. Kitts – Nevis To Make Money Laundering An Extraditable Offence

St. Kitts - Nevis - National Assembly

St. Kitts – Nevis Govt. Review Money Laundering Law
Photo By Erasmus Williams

Basseterre, Saint Kitts – Nevis
July 29, 2008 (CUOPM)

Lawmakers in St. Kitts and Nevis are expected to approve a minor amendment to the Proceeds of Crime Act making money laundering an extraditable offence.

Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas will seek legislative approval on Thursday to ensure that St. Kitts and Nevis is not a safe haven for persons who perpetuate offences of this type.

The Proceeds of Crime (Amendment) No. 3 Bill, 2008 is one of two bills in the name of the Minister of Finance.

The other is the Money Services Business Bill, 2008, which was given its first reading on June 18th.

It seeks to make provisionsfor the licensing and regulation of the business of the transmission of money or monetary value in any form. Cheque cashing, currency exchange and the issuance, sale or redemption of money orders or traveller’s cheques as well as the business of operating as an agent or franchise holder of any of these businesses.

Acing Minister of National Security, Immigration and Labour, Dr. the Hon. Earl Asim Martin will seek to amend the Anti-terrorism Act by providing a definition for the term “forfeited property.”

It will mean assets of every kind whether tangible or intangible, movable or immovable, however acquired and legal documents or instruments in any form including electronic, or digital, evidencing title to or interest in such assets including but not limited to bank credits, travellers cheques, bank cheques, money orders, shares, securities, bonds, drafts, letters of credit.

Another amendment also provides for the imprisonment for a term not exceeding ten years or a fine of one hundred thousand dollars or both for a person convicted of knowingly committing, conspiring or attempting, incites another, aids, abets, facilitates, counsels or procures the commission of the offences under the Act.

Minister Martin will also seek the approval of the National Assembly to amend the Immigration Act of 2002 by waiving the visa `requirement for member countries of the European Union” other than the United Kingdom and Northern Ireland.

Deputy Prime Minister and Minister of Education, Youth, Social and Community Development and Gender Affairs, Hon. Sam Condor will have read a first time the Non-Governmental Organisation Bill 2008, which will regulate the operation of non-governmental organisations in St. Kitts and Nevis.

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