Thursday, March 28, 2024

Beware ‘dirty’ money, charities told

Date:

Share post:

Charitable organisations must guard against money launderers hoping to wash their money.

Both registrar at Corporate Affairs and Intellectual Property Office (CAIPO), Heather Clarke, and Director of the Financial Intelligence Unit (FIU), Shelley Nicholls-Hunte, made this plea yesterday, while noting that charities were becoming bigger targets.

During the National Risk Assessment Report Outreach Sensitisation Session held at the Lloyd Erskine Sandiford Centre, Clarke explained that due to stricter regulations, criminals were moving away from using financial institutions.

“[Charities] do good work and we recognise that, but we have to balance that against the fact that we are not in a normal environment and things have changed. The movement has gone beyond financial organisations and towards charities because of their reputation, and they have access to cash. (TG)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Debt sustainable, says Governor

Central Bank Governor Dr Kevin Greenidge is maintaining that Barbados debt “remains quite sustainable," but he says...

Flood watch discontinued

The Barbados Meteorological Services (BMS) has discontinued the flash-flood watch it issued earlier, with immediate effect. A press release...

Taking time to reflect

In this week’s On Point column, Editor in Chief Carol Martindale highlighted Bridgetown and the “miserable” state it...

Flash flood watch in effect

A flash flood watch is in effect for today and will be terminated at 6 p.m. or sooner...