Categorized | National News

The government intends on sending a stern warning to all those involved in criminal activity and is using legislation to get the job done.

Members of the House of Assembly yesterday continued with the debate on a compendium of bills – namely the Financial Transactions Reporting Bill and the Proceeds of Crime Bill.

The intent is to expose all those intent on engaging in criminal acts wherever they are.

The aim is also to shore up the financial services sector – and to stamp out corruption wherever it exists.

The proposed pieces of legislation also come at a time when the Bahamas ranks 28 out of 180 countries; with a score of 65 out of 100 on Transparency International’s latest corruption perceptions index.

Zero is highly corrupt and 100 is very clean.

Making a case in favor of the bill, Minister of Foreign Affairs Darren Henfield said it is their duty as a government to root out unscrupulous kleptocrats in government who only seek to serve themselves.

The government seeks to change the way business is done.

“Bahamians need to be able to share in the prosperity of their country and I speak to a prosperity that generations yet unborn will be deprived of through their patrimony doors that enable political and public sector corruption; in a world where people seek to come to government soley to enrich themselves. We want to close that door,” Henfield said.

The opposition assured its support for the bills. However it urged the government not to over regulate.

The Member of Parliament for Exuma and Ragged Island, I. Chester Cooper said, “with regard to money transfer business, this industry is already adequately, properly and tightly regulated through the Central Bank of the Bahamas,

“Major money transfer companies like Cash and Go already adopt these standards. We must not make the mistake to over regulate and have unnecessary barriers for businesses, it’s already hard enough,” Cooper said.

Written by Jones Bahamas

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