What is Money Laundering?
Money laundering is the process by which criminals attempt to conceal the true origin and ownership of the proceeds of criminal activities. If undertaken successfully, it allows them to maintain control over those proceeds and provide a legitimate cover for their source of income.
Money laundering is a global phenomenon that affects all countries to varying degrees. Failure to prevent the laundering of the proceeds of crime permits criminals to benefit from their actions, thus making crime a more attractive proposition.
Money Laundering is an offence under various legislation enacted in Montserrat including the Proceeds of Crime Act, the Drug Trafficking Act, Criminal Justice (International Co-operation) Act, and the Anti-terrorism (Financing and Other Measures (OT) Order.