Sunday, July 23, 2017

Justice meeting towards avoiding U.S. money laundering, terror financing sanctions

Profile photo of Valéry Bennett

Valéry Bennett

National Palace Correspondent

PORT-AU-PRINCE, Haiti (sentinel.ht) – A meeting and debate on the “economic and financial stakes of the laundering of assets and financing of terrorism” was held on Friday by the Ministry of Justice and Public Safety (MJSP) in concert with the Bank of the Republic of Haiti (BRH).

Camille Edouard Jr
Justice Minister Camille Edouard Jr. presides over meeting and debate on Money Laundering and Terror Financing. August 26, 2016

The meeting brought together actors in the Haitian banking sector to assess the risks to the country following the decision of the Obama administration to end money transfers to Haiti as of November 2016 if corrective measures are not taken.

Justice Minister Camille Edouard Jr. reassured the population and called actors action, saying “we will do everything in our power to ensure that the nation does not have to pay this heavy burden and we appeal to the responsibility of all the actors of the economic and judicial system in this battle against this scourge, the laundering of assets”.

To provide a concrete answer to the threats that loom on the future of the Haitian banking sector, the keeper of the seals of the republic is doubling its efforts to prevent the execution of such a decision where the Haitian banks will no longer be able to do transfers of money with their American corresponding banks. Plus, correspondences addressed to the Financial Action Task Force (CFTAF Caribbean), he announced the publication of the decree of the 2013 Act on the Laundering of Assets in the shortest time and the establishment of a Unit of Statistics in the MJSP in Port-au-Prince.

The approach is intended to avoid a panic among the bankers and reassure the economic forum of the private sector. The Justice Minister said he is confident that the publication of the law on money laundering will translate the will of the Haitian government to combat tax evasion, the controls anti-laundering capital. Also, this will avoid actions by U.S. authorities to levy heavy fines on U.S. Banks with corresponding banks in the Caribbean region.

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About The Author

Profile photo of Valéry Bennett

Valéry Bennett is a graduate student of Digital Publishing at ESCP, Paris. He is of Haitian descent and participates in the biennial mission trip with his church.

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