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Name: Proceeds of Crime (Amendment) Act, 2018 (No. 7 of 2018).
Country: Grenada
Subject(s): Criminal and penal law
Type of legislation: Law, Act
Adopted on: 2018
Entry into force:
ISN: GRD-2018-L-108373
Bibliography: Legislation on-line Legislation on-line Now Grenada PDF PDF (consulted on 2019-05-13)
Abstract/Citation: Persons carrying on the below mentioned businesses are now required to be registered with the Anti-Money Laundering and Combating Terrorism Financing Commission and pay a Registration Fee:

Banks
Car Dealers
Casino Operators
Credit Unions
Dealers in Precious stone and precious metals
Designated Non-Financial Businesses and Professions (DNFBPs)-including Lawyers, Law Firms Accountants and Auditors
Insurance Companies
Money Service Businesses
Non-Profit Organizations
Real Estate Businesses
Failure to register with the Anti-Money Laundering and Combating Terrorism Financing Commission constitutes an offence which incurs an initial fine upon Summary Conviction of Five Thousand Dollars, (EC$5000.00) and a recurring fee of Three Hundred Dollars (EC$300.00) for each day that the offence continues.
Basic text(s):

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