Members Login
Username 
 
Password 
    Remember Me  
 

Topic: What are Money Laundering, Corruption and Fraud?

Page 1 of 1  sorted by
Wide (rest of width)
Narrow (200px)
MZ Teacha
Status: Offline
Posts: 824
Date:

What are Money Laundering, Corruption and Fraud?

Wednesday, 27 February 2008 Image Kern Spencer, Rodney Chin and Coleen Wright are facing multiple criminal charges, from Fraud to Money laundering.

Those terms have been bandied around regularly, but most ordinary Jamaicans who hear them do not know what they mean.

For instance Corruption under section 14-1 of the Prevention of Corruption Act deals specifically with public officials.

"I believe that Act was introduced in 2000 and came into effect May 2001. It was mainly geared at public officials who accepted gifts or articles of money in the course of holding public office," said attorney-at-law Georgia Gibson Henlin.  

"Money laundering as the name suggests is anything that is done to make money look clean. So laundering in Jamaican parlance would be like rinsing. So if money is dirty it's a process by which you clean it up to give it legitimacy. (It is) taken through any kind of process that will give it a legitimate look and not associated with crime," she said.

On fraud, she said, "Fraud is any offence involving dishonesty, corruption or deceit, with a view for personal gain."

__________________
Gaza Mi Seh
●●● $.Art Director .$ ●●●
Status: Offline
Posts: 6072
Date:
I SHOULD REALLY OWN THIS PLACE
andredesigns.imeem.com

__________________

 

MZ Life Time Member
Status: Offline
Posts: 8858
Date:
LOL

__________________

Alliance Boulevard

Page 1 of 1  sorted by
Quick Reply

Please log in to post quick replies.