Under Jamaica’s Proceeds of Crime Act, banks, cambios, real estate dealers and other regulated businesses must report any transaction they know or suspect involves criminal property. That report is the suspicious transaction report, or STR, filed with the Financial Investigations Division (FID), the national body that receives and analyses financial intelligence.
Staff raise concerns internally with the firm’s nominated officer, who decides whether to report. The law requires the report to be made as soon as reasonably practicable and within fifteen days of the information coming to the person’s attention. Reports are now filed electronically through the FID’s goAML portal. There is no minimum amount; it is the suspicion that triggers the duty. Where a firm wants to go ahead with a transaction it has doubts about, it can seek consent from the designated authority before proceeding.
In a property deal, warning signs include payment from unexplained third parties, pressure to use cash, a price far above market value, or a buyer reluctant to explain where funds come from. It is an offence to ‘tip off’ a client that a report has been made. Failing to report when required can also be a criminal offence. The UK’s suspicious activity report is a close equivalent.
Related terms: Threshold Transaction Report, Anti-Money Laundering Rules for Real Estate Dealers, The Financial Investigations Division (FID), Proceeds of Crime Act (POCA), Money laundering.
Accurate as at October 2026.
