Director of the Financial Intelligence Unit (FIU), McKelson Ferrol, said despite the difficulties encountered after the passage of Hurricane Maria, his department “fared well” working in conjunction and in close collaboration with the Customs and police.
He made his comments at a press conference organized by the Ministry of Justice to update the general public on the status of the operations of that ministry’s various departments.
He said the FIU remains committed to fighting against money laundering and the pledges its unwavering support to efforts to implement a robust and investor friendly anti -money laundering and counter financing and anti-terrorism climate in Dominica
“Two accounts were established to ensure that funds seized or forfeited by persons are effectively managed. The proceeds of crime detain accounts serve as escrow for funds until case is settled while the assets forfeiture account is the final for funds forfeited and as of December 2018, the FIU had on its assets forfeiture funds, 2.45 million dollars and proceeds of crime detain funds of $530 thousand dollars,” Ferrol said.
He revealed that in the conduct of its functions, the FIU had charges preferred against three individuals and withdrawal of two charges. Six investigations were actively considered.
“The FIU currently manages two restraining orders against multiple assets linked to money laundering and continues to investigate and prosecute civil cash and property forfeiture cases and number of them is before the court,” The FIU chief stated.