During a Ministry of National Security press conference convened on January 31, 2024, Mr. Mckelson Ferrol, the Director of Dominica’s Financial Intelligence Unit (FIU), presented an overview of the unit’s notable accomplishments in confiscating significant amounts of illicit funds throughout 2023.
In collaboration with law enforcement authorities, including the Customs and Excise Division and the Commonwealth of Dominica Police Force, the unit handled three cases with a cash value totalling $351,681.02. Out of these cases, two were successfully concluded in court. During this time, the FIU also detained a significant cash seizure amounting to €295,400,
According to Ferrol, in the conduct of one of the FIU functions, the unit pursued several money laundering investigations, coordinating its activity with other law enforcement agencies, including the Director of Public Prosecution. As such, one of their most notable achievements was the first money laundering conviction. The convicted, a Venezuelan national received a two-year prison sentence, and €163,000 was successfully forfeited to the state, which he notes marks a substantial victory in the fight against financial crimes.
During the review period, the FIU actively collaborated with other competent authorities concerning Dominica’s mutual evaluation conducted by the Caribbean Financial Action Task Force (CFATF). The evaluation commenced on December 14, 2021, and was extended until the on-site visit by the team of assessors from August 15 to 28, 2022. Following debates and discussions at the fifth and sixth plenary and working group meeting held in Trinidad and Tobago from May 28 to June 1, 2023, the mutual evaluation report of Dominica was officially accepted, adopted, and subsequently published by both the Financial Action Task Force and the Caribbean Financial Action Task Force website in July 2023.
As stated by the director, since its inception in June 2001, Dominica’s FIU has played a pivotal role in ensuring compliance with the Financial Action Task Force’s 40 recommendations. Through active coordination, legislation review, and the development of national policies, the FIU has been a key player in Dominica’s adherence to international standards.
Per CFATF recommendations, FIUs are mandated to play a crucial role in coordinating the mutual evaluation process of the relevant countries. The resulting mutual evaluation report, along with its suite of accompanying recommendations, necessitates practical engagement by various competent authorities to address identified
deficiencies. During Dominica’s mutual evaluation, the nation performed admirably, receiving two substantial effectiveness ratings and five moderate effectiveness ratings.
Notably, the two substantial effectiveness ratings were attributed to IO 2, emphasizing cooperation, and IO 6, which he noted directly underscores the commendable work carried out by the FIU.
Them man know who they looking for and who they turning a blind eye to. Investigate your lord and savior, Roosevelt Christ. Investigate all the CBI agents.
Ferrol is a big hypocrite and worshiper of Roosevelt. Ferrol, you should be working for the people of Dominica and not for the one you should be investigating for stolen money.
And the $B4.6 that are missing from the treasury why have you not located its whereabouts. And what happened to the large amount found in Terre Platte just a hand stretch from you. You talked of only illicit cash I talk of the proceeds of the illicit cash like the high ends alcoholic drinks that were confiscated. Where are the blue and green whiskey and cognacs? A big news conference just for 3 incidences in 365 days? Ratio:1:122 and a lot less from your annual salary and the $64 000/per month for the King.
FIU…Are you all selective in the way you all conduct your duties? What about the significant amount of money that was found at Terre Platte in the north? Monfarred channelled illegal money to a gas station up north. What about that? And there are myriad more cases.
You all should be sent home and made to repay the state your monthly salaries, then be replaced by people who will do an honest job irrespective of who the culprits are. Dominica is a small country.You all will never fool everyone!
Hello! Well said!
The present government and all of its affiliate organisations, departments, ministries and organs are not to be trusted. Nothing but blatant lies, untruths and half-truth and, sadly, the FIU has allows itself to become compromised.
Billions of dollars from the CBI scheme are missing from the government treasury. The FUI has made no attempts or sounded any alarm as to the whereabouts of these monumental sums of the people’s money.
In its present configuration and composition, the FUI is a useless instrument of the law. It seems more beholden to the Starboy of Stupidity than to the betterment of the citizens. FUI stands for – Failed Unit of Investigation
Are you all Ludicrous or Ludacris? Which one? You UWP acolytes are nothing but enemies of progress. Your myopic vision makes it difficult to see progress at a distance and from a distance.
Until such day the FIU commences to investigate a certain Roosevelt Skerrit, I can only laugh at your statement and your ‘investigations’. You are there in name only and now doubt Ferrol draws a fantastic salary for keeping inactive.
Well, if you have credible reasons to believe that “a certain Roosevelt Skerrit” should be investigated, take it to the right sources. Remember Linton tried this foolishness? Check him out for suggestions on how you can have that “certain Roosevelt Skerrit” investigated. So much talk and no action. Take the evidence to the FIU, FBI, Scotland Yard, CBS, Aljazeera (yea, try again), France 24, highly reputed “international journalists,” World Bank, etc. Go for it! Dimwit.
Are u having a rough time in London and cannot enjoy a fantastic salary? U can be a thermo-therapist and take of the King who has now been diagnosed with a form of cancer.
give dat man a lollipop!
a Venezuelan case is highlighted and his 2-year sentence.
it’s like locals not involved in money laundering eh.
Dat is de depth of what you have managed in recent times
Dat report is not impressive.
I’m not sure who you trying to impress.
I remember de bin bobol
and……..Roosevelt Skerrit himself admitted that de $1.2 billion budget was short of $1 billion
de clock is still running on when the accountants in de Finance ministry and de financial secretary will embarrass Lennox Linton by order of Skerrit
Do you by any chance know who owns de big big building next to de credit union in Roseau
I been thinking that if it was a huge private sector investment ….de ting just dere looking at people…….no grand opening…….no announcements of job openings and ting……..like de famous Moroccan Hotel
Noticing you want?
Boss go and get work for all you to do!!!!
Ferrol a guy was recently arrested in US sent jail for fraud and money laundering facilitated by a bank in Dominica. Can you open up an investigation on who in DA facilitated illegal activities?
Shaka you are sowing seeds on a piece of barren land. To open an investigation into the local bank that facilitated this fraud is as remote as the furthest point of the South Pole.
The bank. It would have received the money from the client. When you bank your money in NCCU is there someone in Dominica who “facilitated” your transaction, other than the bank attendant? What kind of nonsensical question is this?? Makes sense.