• Latest
Kuwaiti Funds agrees to release funding

Revised Legislation Against Terrorist Financing and Money Laundering

9 years ago
Mighty Sparrow to be honoured with special day in Grenada

Mighty Sparrow to be honoured with special day in Grenada

4 hours ago

Update: NAWASA’s water systems

15 hours ago
Petipha Lewis elected Vice Chairperson of CARICHAM

Petipha Lewis elected Vice Chairperson of CARICHAM

18 hours ago

CDEMA Participating States spared major impact from potential Tropical Cyclone

19 hours ago
Sandals Foundation sponsors National Learn to Swim Week

Sandals Foundation sponsors National Learn to Swim Week

19 hours ago
Justin Sun attended WTO MC12 with focus on SIDS, E-Commerce and more

Justin Sun attended WTO MC12 with focus on SIDS, E-Commerce and more

24 hours ago
Free online psychological counselling services

Free online psychological counselling services

1 day ago
Digicel retires Billo, D’Music and PlayGo apps

Digicel retires Billo, D’Music and PlayGo apps

1 day ago

Assessment of NAWASA’s infrastructure ongoing

1 day ago
This Day in History

This Day in History: 29 June 1830

1 day ago
National Cleanup Begins Friday

All clear issued; normal work and school day

1 day ago
National Cleanup Begins Friday

Tropical Storm Warning discontinued for State of Grenada

1 day ago
NOW Grenada
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Revised Legislation Against Terrorist Financing and Money Laundering

This story was posted 9 years ago
31 October 2013
in Business, General News
2 min. read
Hon. Gregory Bowen
Share

Grenada’s Lower House of Parliament has amended nine pieces of legislation to enhance the island’s compliance with the Caribbean Financial Action Task Force rules and regulations.

‘The adjustments are aimed at stopping every available avenue to eliminate terrorist financing and money laundering,” said Gregory Bowen, Leader of Government Business in the House of Representative who explained that the amendments are not only being done to laws in Grenada but in other region territories.

“They too have to comply with the legislative adjustment as the region put the structures in place to ensure that companies, non government organization, charities, fraternities and groups of a similar nature are not use to finance terrorist activities,” he said.

The amended laws are the Companies Act; the International companies Act; the Financial Intelligence Unit Act; the Banking Act; the Offshore Banking Act; Proceeds of Crimes Act; the Interception of Communication Act; the Criminal Code and the Terrorism Act.

The Companies Act now provides for all Non-Governmental Organisations (NGOs) to register under the companies Act in the same format as company. “This means that the names of the directors and others associated with the organisation will be known,” Bowen said, who explained that there is growing evidence in many parts of the world that philanthropist and other use charities and NGOs to finance illegal activities such as terrorism, money laundering and human or migrant trafficking.

The criminal code amendment specifically makes provision for the criminalization of human trafficking, migrant smuggling, environmental crimes and piracy. The legislators approved for the inclusion of “hostage-taking”  which means a person who seizes or detains and threatens to kill, or to injure, or to continue to detain another person in order to compel a third person to do or to abstain from doing any act as an express or implied condition for the release of the person.

A person found guilty of “Hostage Taking” will be liable to conviction on indictment to life imprisonment. In the area of piracy it means any illegal act of violence, detention or any act of depredation, committed for private gain by the crew, including the master, or the passengers of a private ship, a private aircraft and directed on the high seas, against a ship or aircraft. The penalty is also life imprisonment.

“We are not leaving any room or loopholes in the law for those who may what to take advantage of any situation,” said Roland Bhola who presented the Criminal Code amendment to the legislators.

by Linda Straker

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.
Tags: launderinglegislationlinda strakermoneyngoparliamentterrorismterrorist
Next Post
New Legislation Against The Use Of Chemical Weapons

New Legislation Against The Use Of Chemical Weapons

Comment on post Cancel reply

Please enter your valid email address.
Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings. Visit our Privacy Policy | Terms of Use.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.