FINANCE and the Public Service Minister Audley Shaw has announced that the Financial Investigations Division (FID), which falls under his ministry, is to become an independent government department.

He said the decision will afford the FID greater autonomy and independence, similar to what is contemplated for the Major Organised Crime and Anti-Corruption Agency (MOCA).

The minister was speaking during Wednesday’s opening ceremony for the FID’s two-day conference at The Jamaica Pegasus hotel in New Kingston, under the theme ‘Taking the Profit out of Crime: What Does it Take?’.

The FID, established in December 2002, is mandated to investigate and heighten public awareness about financial crimes and their impact on society.

Focus is placed on deterring the use of Jamaica’s economy for money laundering and other financial crimes, thereby contributing to a stable financial sector and an investor-friendly environment.

Shaw informed that a portion of the civil recovery proceeds obtained by the FID will be allocated to the agency to fund projects aimed at strengthening its capacity and helping it to fulfil its obligations.

He disclosed that the FID currently administers nearly $3.2 billion in restrained and forfeited property and assets.

http://www.jamaicaobserver.com/news/fid-to-become-independent-government-department_124241