Nevis Financial Services To Host Seminar On Money Laundering

Money Laundering Seminar To Educate Charlestown, Nevis January 29, 2011 Premier of Nevis, Hon. Joseph Parry will open the 7th Annual Anti Money Laundering (AML)/Caribbean Financial Action Task Force (CFATF) Awareness Seminar, hosted by the Nevis Financial Services Regulation and …

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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.”

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