Over a million dollars seized for the year thus far is currently under investigation by the Financial Intelligence Unit (FIU) of Dominica.
Director of the FIU, McKelson Ferrol, stated that for the period under review, the unit effectively dealt with a series of cash seizure cases in collaboration with the law enforcement agencies to include the Customs and Excise Division and the Commonwealth of Dominica Police Force (CDPF).
At present, there are five seizures under investigation with a cash value of sixty-seven thousand, eight hundred and twenty-four dollars ($67,824). The number of reseizures is one, with a cash value of eight hundred and nineteen thousand, seven hundred and ninety-seven dollars and eighty-six cents, while the number of successful forfeitures, is three, with a cash value of ninety-three thousand, nine hundred and twenty dollars and sixty-one cents.
A seizure is when funds are taken during the course of an investigation. Forfeiture occurs where individuals are deprived of funds under penalty of law or otherwise fail to claim the disputed funds. Reseizure can occur when funds were initially seized and then were released for various reasons such as lack of evidence and then seized again when evidence later becomes available.
Ferrol indicated that in the facilitation of cash seizure and cash caught by the proceeds of crime, two accounts were established to ensure that funds seized or forfeited from persons, are effectively managed.
“The proceeds of the crime detained fund served as an escrow account into which funds are deposited and held pending the outcome of the cases before the court. The assets for future fund serves as a final repository for funds forfeited to the state,” he said.
The FIU Director revealed that as of November 2020, the balance of the assets for future funds is at three million, eighty thousand, four hundred and sixty-four dollars and fifty-four cents. The proceeds of the crime detained fund are at one million, three hundred and seventy-five thousand, eight hundred and ninety-five dollars and seventy-five cents.
He said that in the conduct of one of its core functions, the unit pursued several money-laundering investigations, coordinating its activity with other law enforcement agencies as well as the Director of Public Prosecution (DPP).
Five investigations were actively considered, which include three money laundering investigations, two money laundering prosecutions and two people have been charged.
“The division which has continued to be a pivotal department in the national effort to combat money laundering, terrorist financing and other financial crime within our jurisdiction has proven to be a huge success in the management of the units’ capacity building,” Ferrol remarked.
In 2019, the FIU established an analytical department to examine all reports received in relation to its mandate to receive, request, analyze, investigate and disseminate inquiries concerning all suspected proceeds of crime and suspicious transactions and information related to a property of terrorist groups and terrorist financing.
One hundred and thirty-eight Suspicious Transactions or Activity Report (STR) have been received and analyzed for the year so far, with eighty-seven disseminated reports.
According to Ferrol, Dominica’s second cycle review of chapter two (which is preventing anti-corruption policies and practices) and chapter five (asset recovery, prevention and detention of transfer of proceeds of crime) of the United Nations Convention Against Corruption is carded for review in the coming months.
Dominica will be reviewed by Guyana and Romania along with two representatives from the United Nations Office on Drugs and Crime and during that period, there will be one onsite visit and several video conferences, the first of which will be on November 27, 2020.
Ferrol said that the unit is actively working with other competent authorities to complete the National Risk Assessment (NRA) by the end of November 2020, a process that started four years ago but was disrupted by the passage of Hurricane Maria and now Covid-19.
right here in Dominica, in public sight, an apartment, which is of low income, is said to be costing the government of Dominica $400,000.00 ec dollars, what defines low cost in our jurisdiction? no investigation by FIU. Manoj Bhullar, accused the PM of Dominica of having sold a diplomatic mission to his business partner, where he provided evidence of money transfers to individuals here, but have we seen any investigation…smh. Director of the FIU McKelson Ferrol, just seems to be an enabler with an attached line! any real work would amount to resolving the root cause of our issues.
Hoping “The over $1M is still there and not $100.00 remaining from that amount.
You all boast of seizure, why are you all not investigating all the government Ministers and party members, that clearly own assets more than their salary can pay for and they wete not inherited. This is supposed to be an independent organization but it’s clearly an operation of government control cronies.
Why is it that you all look at one set ah people.It’s been alleged that money laundering goes on at the top of the government why don’t you take that same approach with all those who brake the laws
Why? Because there is a Head of Department, A Permanent Secretary, an Accountant General and the annual Audit that is managed and check that our States funds are respected and accounted for.
Where the Hell is the Finance Mimister, principled person as Head of Government to be ensure that our States funds in and tax we ps must be accounted for at all times. We don’t trust this Failed incompetent Skerrit as Finance Mimister and whatever after. We know that this is a fake incompetent Questionable Labour government under its failed incompetent so called Prime (Odd) Minister.
Our Dominica has not seen any growth in the past 20 long years under this Incompetent Labour government and its incompetent failed immature Skerrit, so called Prime (Odd) Minister. We need Skerrit out, we need this Failed Labour government out of our business.
We have more distinguished experienced commited trusted competent people to manage our States financial affairs.Skerrit must”Go to Hell.. Go to Hell” Get…
Mickelson is a waste of time. Tell him to go investigate Skerrit
Mr. Ferrol, did you say “money laundering”??!!? Didn’t you hear what Skerro said about the 1.2 BILLION dollars missing from the CBI and UNACCOUNTED for????! Nor are/were you and the unit you head, aware of the 1.5 MILLION taken in a briefcase to local banks which they refused to accept?? Or the Panama Papers??
Even the blind can see that “cherry 🍒 picking” is the order of the day. Why are the whales allowed to get away while the sprats get caught in the nets??
Go ahead, tickle me again. Laughter is said to be the best medicine so could you PLEASE make me laugh some more?
Thanks 😹😭😁😅😂🤣😆🤭🤗
Money laundering and FIU😝🤪🤔🤓🤑🤑
HOTEP!
Poor people all you investigating… What about skerite and the money laundering accusations. Monfared?? Ng lap Seng.. the bloody passport saga.. huh?? Aljazeera was out with a report .. why didn’t the FIU collaborate with Aljazeera to investigate what was goin on ??????????? What about that ..the blordy Panama papers ???? no investigation .. damn currupt set of people .. man you people are ridiculous..
Ferrol are government officials and thier cronies above the law? There were media reports of money passing through a certain gas station and another from west indies cricket legend indicating funny money transactions. There were also reports of large amounts of cash deposited in a bank. Were any investigations initiated? What about Tax evasion. People received large amounts of money to run for office. Did they fike on taxes. Your job cannot be partial or bias.
could’nt have said it better.
Many Dominicans are concerned about corruption in high places. The Aljazeera Report on Dominica revealed some questionable and corrupt practices of the leader of government. There are also serious questions about the secretive management of the the CBI programme. Has any serious investigation been done into these allegations?
The Financial Intelligence Unit (FIU) will gain the people’s confidence and trust when they solve the question as to how a man of very humble beginnings can become the richest prime minister in the entire Caribbean from the salary of a civil servant.
When that question is answered satisfactorily then and only the FIU will gain credibility and respect.
why dont u open an investigation into the monies that disappeared from the airport fund there is only 200+ dollars on it …….minion