And today’s signing also gave us an opportunity to speak with the FIU new director. The Government announced his appointment 5 days ago with the information that his appointment letter was signed by the Governor General on October 11.
He replaced Joy Grant who moved on become the new Governor of the Central Bank of Belize. He was a career public servant in the Income Tax Department, and when he left that post, he was the Commissioner of the Income Tax.
So, is he up to the job as chief of the unit which polices financial crimes? That’s what we asked, and here’s what he had to say:
Kent Clare - Director, FIU
"At the level of director learning curve will be steep but I think there is a parallel and commissioner will tell you; FIU's challenges in not just we have an obligation to our country to make sure that the financial systems and so on are protected but we already have an international obligation which then does impact our country as well the way we do business. So for example like black listings and so on that is a very - it's always in our minds, it's always there. Now thankfully FIU has gone through number of reviews and we are at this point in time compliant but the environment is never time for you to relax, there's always more to be done and that is why this project by the way headed by Ms. Joan Edwards here is a legal officer who basically is a very huge undertaking. We will have that review 2021 fourth round mutual evaluation so we, our work is cut out for us. Now on the tax side, tax also has a sort of similar types of ventures because we don't know how conversant the media is with a thing that is called the CRS; the common reporting standards where Belize like everybody else is going to be required to automatically exchange tax information in 2018. So you have to be juggling dealing with what is before you domestically with your international obligation so that extent it allows me to jump into it, hit the ground running to speak with the challenges at FIU. My staff has bent over backwards to accommodate to bring me up to speed with what needs to be done, what are the emergent issues, what are the really hot plate kind of issues."
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