. Medical and Hospital News .




TRADE WARS
Caribbean financial scams costing millions
by Staff Writers
Kingston, Jamaica (UPI) Nov 13, 2012


disclaimer: image is for illustration purposes only

Financial scams have robbed U.S. and Caribbean citizens of millions of dollars, driving U.S. and Jamaican security forces into urgent collaboration to stem the tide.

In Kingston many of the money kiosks dealing with domestic and foreign remittances and other financial transaction remain under close scrutiny.

Many have suspended financial operations after large-scale fraudulent activity caused operational meltdown.

U.S. Ambassador Pamela Bridgewater said American citizens were fleeced of more than $42 million during a three-year period ending last year. Of those victims, 18 from South Florida and lost about $5.5 million, Bridgewater said.

Jamaican fraudsters have been using money shops to create scams, some involving the national lottery.

Analysts said the scams were of particular concern because of a growing influx of organized crime and drug gangs hounded out of Colombia and Mexico during security operations in those countries.

The envoy cited U.S. Federal Trade Commission data to outline the extent of fraud, The Jamaica Observer said.

U.S. law enforcement agencies have been working "closely and vigorously" with Jamaican counterparts in collaborative efforts to combat the scam since it surfaced several years ago, Bridgewater told a meeting called to discuss measures to combat the problem, the Observer said.

A special task force based at the U.S. Embassy in Kingston includes security and law enforcement experts from several U.S. agencies.

Bridgewater said U.S. collaboration with the Jamaica Constabulary Force and the Jamaican Customs Department had led to constructive results.

"We also work on programs, projects and operations in the United States with the cooperation of the JCF, and we work on cases in our own country (for which our authorities) will request extradition," the envoy said.

U.S. officials are also helping Jamaican law enforcement agents with local investigations and sharing intelligence that will help in combating the crime wave, she said.

"We won't stop until justice prevails," she said.

Jamaican remittance companies have reported than 270,000 suspicious transactions to the Financial Investigations Division since early 2012, the Gleaner newspaper said.

Leesa Kow, president of Jamaica Money Remitters Association, told The Gleaner the scams had forced businesses to increase security, at significant cost.

"It is horrendous, the financial burden as well as the burden on the human resources," Kow said.

"We have had to have in place huge numbers of teams to sit down and vet transactions; that's all they do. They look at the patterns of the transactions, they look for linkages between the transactions and where the transactions are coming from and where they are going," Kow said.

FID chief Justin Felice says the organization is hard-pressed to sift through the huge volumes of suspicious transactions because of insufficient human resources.

Caribbean countries are also struggling to build up and refurbish their military and security forces.

Recent moves toward defense acquisitions have met with opposition from government critics and warnings about the proper use of limited cash resources at the governments' disposal.

The United States has put different programs in places for the training of Caribbean military personnel and for measures against money laundering and other organized crime activities transferred from Latin American narcotic hubs.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Get Our Free Newsletters
Space - Defense - Environment - Energy - Solar - Nuclear

...





TRADE WARS
Huntsman, Sinopec form joint venture in China
New York (AFP) Nov 13, 2012
US chemicals maker Huntsman Corporation unveiled Tuesday a joint venture with a subsidiary of Chinese oil giant Sinopec to build and operate a chemical plant in China. Huntsman will own 49 percent of the joint venture, Nanjing Jinling Huntsman New Materials, and Sinopec Jinling Company will hold 51 percent, the Texas-based company said in a statement. The plant, to be built in Nanjing, w ... read more


TRADE WARS
New York governor seeks $30 bn in aid after Sandy

Chernobyl cleanup workers had significantly increased risk of leukemia

Asia's mega-cities more vulnerable to disasters

Commentary: Sandy's S.O.S.

TRADE WARS
Quattro Group Gains Visibility And Control With Ctrack

Gazprom to Launch Two Satellites by Yearend

Research cruise testing EGNOS satnav for ships

Two SOPS accepts command and control of newest GPS satellite

TRADE WARS
Activating the 'mind's eye': sounds can be alternative vision

A firm molecular handshake needed for hearing and balance

Weizmann Institute scientists observe as humans learn to sense like a rat, with "whiskers"

Healthy Living Adds 14 Years to Your Life

TRADE WARS
Animal rights group puts bounty on elephant killers

China's endangered pandas face bamboo shortage threat

S.Asian vultures stable after near-extinction: study

China surveys Yangtze dolphin as extinction looms

TRADE WARS
Italy lifts ban on Novartis flu vaccines

Switzerland lifts ban on Novartis flu vaccine

New opportunity for rapid treatment of malaria

Test allows doctors to see disease without microscope

TRADE WARS
Child journalists grill ministers at China congress

Dalai Lama 'despised' by Chinese people

China not 'serious' in Tibet immolations probe: Dalai Lama

Grumbling 'volunteers' roped into Beijing crackdown

TRADE WARS
Piracy will swell again if seas not policed: S.African Navy

Mekong River attackers get death sentences

West African pirates target oil tankers

Pirate killed off Somali coast: NATO

TRADE WARS
Lagarde wants 'real fix, not quick fix' on Greek debt

Texas Instruments to cut 1,700 jobs in reorganization

Japan's economy shrinks, raising fears of recession

'World's workshop' China aims to reinvent itself




The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement