Leader of Opposition Business in the Senate Peter Bunting is stressing the need for real estate developers to be mandated to report their clients’ source of income.

This, he explains, will help to prevent money laundering and the financing of terrorism.

Senator Bunting, who was contributing to a debate on the newly approved “Terrorism Prevention (Designated Reporting Entity) (Trust and Corporate Services Providers) Order 2022 in the Senate on Friday (January 28) said currently, real estate dealers are required to report the source of all their clients’ funds.

He said this should also be a requirement of real estate developers.

The newly passed Order seeks to ensure that Jamaica has robust financial and non-financial institutions which are trusted locally and internationally and to prevent them from exploitation by criminal elements.