COJ Establishes Anti-Money Laundering Unit

Manager of the Anti-Money Laundering Unit at the Companies Office of Jamaica (COJ), Inger Hainsley-Bennett (left), and Chief Executive Officer and Registrar of Companies, Shellie Leon, participate in a recent JIS Think Tank.

An Anti-Money Laundering (AML) Unit has been established within the Companies Office of Jamaica (COJ) to enhance regulatory compliance and transparency.

This strategic move comes in response to the heightened scrutiny and monitoring efforts by the Financial Action Task Force (FATF) to combat money laundering and ensure financial integrity.

Speaking at a recent Jamaica Information Service (JIS) Think Tank, Manager for the Unit, Inger Hainsley-Bennett, shared that its primary focus is to leverage the new powers granted to Registrars, ensuring that the information provided by companies is accurate and verifiable.

Aside from verifying the accuracy and integrity of information provided by companies, the AML unit is also responsible for “conducting on-site inspections of company records at their actual locations to ensure consistency with the information filed at the Company’s Office,” she added.

The Unit also ensures beneficial ownership compliance, so that beneficial ownership information is accurately reported and that the true owners and controllers of companies are disclosed.

By implementing the AML Unit, the COJ aims to foster a culture of transparency and accountability within its organisation and among partners.

Companies are, therefore, being encouraged to ensure their compliance with these new regulations by timely filing the necessary documentation and maintaining accurate records.

Persons in need of assistance or clarification may reach out to the COJ at custsupport@orcjamaica.com or call (876) 908-4419-26.

Source: JIS

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