At a meeting held yesterday (April 12^th 2012), the Anti-Money Laundering Advisory Board (AML Advisory Board) approved the immediate operationalization of the Financial Reporting Centre (FRC).

The main objective of the FRC is to assist in the identification of proceeds of crime and combat money laundering. The Centre will:

• Operationalize the Proceeds of Crime and Anti-Money Laundering Act.

• Receive of analyse reports of unusual or suspicious transactions that may be associated with money laundering and forward them to appropriate law enforcement authorities for appropriate action including prosecution.

• Develop anti-money laundering policies in consultation with the AML Advisory Board.