Members of Parliament (MPs) were given insight into the operations of the Financial Intelligence Taskforce, commonly referred to as the Bureau for Unusual Financial Transactions MOT, in a sitting of Parliament’s Committee for Justice.
Justice Minister Cornelius de Weever and MOT Head Ligia Stella outlined MOT’s workings and its place in the country’s financial system. They also highlighted the need for Parliament to pass pending laws related to MOT’s operations as a way to ensure banking in the country does not become more cumbersome for residents and businesses. Parliament has before it a package of laws and law amendments that must be handled by March 1. MPs were also updated on MOT’s staff shortages and given an overview of unusual transactions filed with the Prosecutor’s Office by MOT for review. Less than one per cent of the transactions reported to MOT have been sent to the Prosecutor’s Office for review. It should be noted that not all financial transactions filed with the Prosecutor’s Office result in criminal cases.
