Barbados: Gov't to target 'cash for gold' scheme

CMC – The Barbados government will be tabling legislation aimed at regulating the “cash for gold” phenomenon and the sale of other metals, says Attorney General Adriel Brathwaite.



Speaking at the launch of Police week, Brathwaite said the new legislation would also provide for stiffer penalties for people who engage in the theft of copper.



He said that over the past several months, some of the most significant challenges have been associated with property crimes, burglary and theft on the street.



Brathwaite said it is most unfortunate that what some people might have considered to be legitimate form of commercial activity, is now being exploited by those severely affected by the ‘easy money syndrome’ and dishonest dealers who conveniently turn a blind eye to the origin of gold and other metals.



“The extent of this challenge has led to the recognition of the need for interventions that include a more dynamic and contemporary legislative approach. To this end, there is ongoing work to ensure that by the end of this year, the appropriate legislative reform would have taken place to facilitate the more effective regulation of the trade of metals,” he said.



The attorney general said that the appropriate legislative adjustments would also be made to ensure that greater penalties are attached to those who engage in the theft of metals.



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