F.I.U. Getting Ready for United Nations Convention Against Corruption

Kent Clare

And so, where does the FIU fit in following the signing of the United Nations Convention against Corruption on December ninth? In some corners it is believed that with the signing of the Convention there will be redundancies as it relates to the FIU’S combating financial crimes. Today, Clare told the media that he believes that Belize’s signing of the UNCAC will be complementary to the FIU’s effort. He says that a member of his team is part of a committee that is working on the terms of reference. Here is how he explains it:

Kent Clare, Director, FIU

“As a matter of fact, Joan right now sits as our representative; there is a working group developing the TOR for that UNCAC instrument. Certainly, it is parallel, complementary to what the FIU would do. So, I think that what that convention would seek to do, there are parallel things that you would find in what the FIU does. There is a lot of oversight I think as well I think with PEPs, the Politically Exposed Persons. You are looking more at the adherence to good governance and integrity in your governmental structures that is the focus of that convention. There are parallels; it is not exactly the same thing that is what I am saying.”

Reporter

“Sir, from time to time we hear of cases of that the FIU conducts on members of the public. I don’t think it is ever discussed if the FIU investigates persons in government. Do you all do such investigations if you see it fit?”

Kent Clare

“I had said earlier that I generally, I can say this comment to you and say clearly, every indication to me is that definitely that is the case. I have not seen any instance where simply because a person might have some political connection, if that person fits a particular profile if there are indicators of some sort of suspicious transactions, if it meets the criteria, absolutely investigated.”

Reporter

“So, then, is there any real concern that with the convention, there will be redundancies; I know you describe them as parallels, but if the FIU is already capable of working on good governance matters, is there any concern that another element that could be deemed as more bureaucracy that the FIU is already handling. Is there any concern that the work overlaps and the FIU could be doing what is already expected of the UNCAC?”

Kent Clare

“Well, it remains to be seen you know because a lot of this is still under development. What I will say, what I can comment on and I know the Prime Minister had made this comment and it is absolutely true, is that with all of these efforts that we are obliged to undertake and even the CRS this automatic exchange, it certainly means the commitment of resources. Because you just don’t sign on to these things, and say well I signed. You have to demonstrate effectiveness. You have to have a staff. So, bureaucratic? I don’t think this and the reports I have heard from Joan, I don’t think there is any attempt to make this bureaucratic and just going through the motions. But yes there has to be a concern that that it will require the staffing. You can’t have effective investigations without spending some money.”