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Home 🌿 Marijuana Politics 🌿 Jamaica's financial sector urged to be watchful of new ganja industry 🌿Jamaica's financial sector urged to be watchful of new ganja industry
The Jamaican government is urging the financial sector to ensure that only clean money from the new ganja industry passes through their systems.
Minister of Foreign Affairs and Foreign Trade Senator AJ Nicholson made the call yesterday as he said the opening of opportunities in the industry also involved risks.
Addressing the Jamaica Bankers’ Association/Jamaica Institute of Financial Services 4th Annual Anti-Money Laundering/Counter Financing of Terrorism Conference, he said that with the relaxation of rules governing the use, possession and trade in medical cannabis related products, financial institutions “must adapt their rules and procedures to be consistent with the amendments to the Dangerous Drugs Act”.
“In so doing, they must continue to be vigilant to ensure that funds which pass through their institutions are acquired only through the regulated trade in cannabis and cannabis related products, which are legal,” Nicholson added.
Under the amended Dangerous Drugs Act, which came into...
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