Anti-money laundering legislation approved

ROSEAU (CMC):

The Dominica parliament has approved legislation strengthening the "investigative and prosecutorial arm of the state" in the fight against money laundering and other financial crimes.

The Financial Intel-ligence Unit Bill, the Financial Services Unit Amendment Bill, the Money Laundering Preven-tion Bill and the Suppression of Financing of Terrorism Bill were approved yesterday, even as opposition legislators continued their boycott of the legislative sessions over allegations that the 2009 general election had been flawed.

Prime Minister and Minister for Finance Roosevelt Skerrit said that the new laws were linked and would "address a number of deficiencies in the existing legislation.

"As a country which is part of the global environment, we have a responsibility to fight transnational crime," Skerrit added.

With regard to the money laundering prevention bill, Skerrit said it would bring Dominica in line with 40 recommendations outlined by the Financial Action Task Force, the Paris-based intergovernmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing.