NATIONAL ASSEMBLY PASSES LANDMARK BILL TO STRENGTHEN ASSET RECOVERY AND COMBAT FINANCIAL CRIMES

Basseterre, St. Kitts, September 18, 2024 (SKNIS): On Wednesday, September 18, 2024, the National Assembly of St. Kitts and Nevis passed the Proceeds of Crime and Asset Recovery (Amendment) Bill, 2024. The Bill, which aims to strengthen the country’s legal framework for combating financial crimes and recovering assets obtained through illegal activities, was moved through the National Assembly by the Honourable Garth Wilkin, Attorney General (AG) and Minister of Justice and Legal Affairs.

In his debate, Attorney General Wilkin outlined the importance of enhancing the country’s proceeds of crime and asset recovery infrastructure. He emphasised the critical need for St. Kitts and Nevis to have strong legal measures in place to disrupt and deter criminal activities, especially in the face of challenges posed by the island’s geographical location as a transit route for illicit trade. 

“We do this in two complementary ways, detection and deterrence,” said AG Wilkin. “We make it known, clearly to the underground world that we have the effective laws, political will, competent authorities, innovative policies, and advanced technology to detect their illicit activities, and we have the robust asset recovery infrastructure to seize their ill-gotten gains.”

The attorney general highlighted the significance of the Proceeds of Crime and Asset Recovery Act, 2020 (POCARA), which was passed in January 2020, but not yet operationalized due to administrative issues. The passage of the 2024 amendment now brings POCARA into force, enhancing the ability of law enforcement and judicial authorities to freeze, seize, and recover assets derived from criminal conduct.

Key provisions of the 2024 amendment include the expansion of definitions such as “tainted property” and the introduction of new terms like “digital currency” and “virtual asset.” The amendment also strengthens the legal framework for international cooperation in the fight against money laundering and other financial crimes, empowering the Director of Public Prosecutions to apply for forfeiture and confiscation orders.

AG Wilkin also underscored the importance of training and capacity building for law enforcement. In April 2024, the Ministry of Justice and Legal Affairs partnered with the Bureau of International Narcotics and Law Enforcement Affairs (INL) and the National Center for State Courts (NCSC) to host a civil recovery conference. This training equipped law enforcement stakeholders with the skills necessary to tackle high-level crime and recover assets.

“By raising the standard of civil asset recovery knowledge and best practices, we are fortifying the pillars of our criminal justice system. This initiative has clarified agency roles, fostered cooperation, and instilled confidence in our ability to address asset recovery cases promptly and accurately,” said AG Wilkin.

AG Wilkin said that the passage of the Proceeds of Crime and Asset Recovery (Amendment) Bill, 2024, marks a significant step forward in the Federation’s efforts to combat crime, uphold the rule of law, and ensure justice for all. He added that the government remains committed to creating a safer and more just society, laying the foundation for a sustainable island state with robust institutions capable of withstanding future challenges.

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