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GLOSSARY OF TERMS
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The Government of Grenada has enacted several pieces of legislation aimed at preventing and detecting drug trafficking, money laundering, terrorist financing and other serious crimes. These include:-
Financial Intelligence Unit Act
( 5 Documents )
The enactment of the Proceeds of Crime Act 6 of 2012, the Financial Intelligence Unit Act 14 of 2012 and the Terrorism Act 16 of 2012, represent a comprehensive legislative regime highlighting the Grenada Government’s commitment to rid our financial system from the scourge of money laundering and terrorist financing and the attendant problems.
In addition to the establishment of the Financial Intelligence Unit, training for law enforcement agencies at all levels, forms part of the overall mechanism to ensure that criminals do not benefit from the proceeds of their crime.
Proceeds of Crime Act
( 10 Documents )
The Proceeds of Crime Act 6 of 2012 provides for the confiscation of cash and other property which is determined to be the proceeds of drug trafficking or other relevant offences. The FIU liaises with and assist the Director of Public Prosecution to take appropriate action to confiscate illicit proceeds. Confiscated assets have various positive outcomes.
It deprives the criminal of the benefits of wealth
It denies the criminals the opportunity to invest ill-gotten gains
Provides additional funds to the Government of Grenada, to strengthen law enforcement agencies.
( 7 Documents )
Proceeds of Crime Act (AML/TF) Guidelines
( 4 Documents )
Proceeds of Crime Act (AML/TF) Regulations
( 4 Documents )
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