money laundering property Jamaica

Real estate is a well-established vehicle for laundering the proceeds of criminal activity: a property purchase converts illicit cash into an asset that appears legitimate, generates lawful rental income, and can be sold to produce ‘clean’ capital gains. Jamaica’s Proceeds of Crime Act and anti-money-laundering framework impose obligations on attorneys, real estate dealers, and financial institutions to detect and report suspicious transactions.

Nominee or fronting arrangements — in which property is registered in one person’s name for the benefit of another who remains undisclosed — are used in Jamaica both for legitimate purposes and for fraud. When a nominee arrangement conceals the true beneficial owner, enables tax evasion, assists in money laundering, or is used to defeat creditors’ claims, it crosses the line into illegality.

Real estate is one of the primary vehicles through which the proceeds of crime are laundered in Jamaica. The Proceeds of Crime Act empowers MOCA and the Financial Investigations Division to investigate and forfeit property acquired with criminal funds. This report examines how property-based money laundering operates, the obligations on attorneys and agents, and the risk to innocent buyers who unknowingly purchase laundered assets.