AML-CFT Conference | National ID system for January 2018
Published:Monday | October 10, 2016 | 12:00 AMNeville Graham
The National Identification System (NIDS) under development for Jamaica will become operational in January 2018.
Prime Minister Andrew Holness, in making the announcement at a banking conference that got under way in New Kingston this morning, said it was the first item on the agenda for today’s Cabinet meeting.
Holness said since taking over the reins of government in February he has set the establishment of NIDS as a strategic priority.
He said the 2018 commencement date was difficult but attainable.
“I know that given all the parameters that the deadline is ambitious — but so am I,” the Prime Minister asserted as he addressed the opening session of the 5th annual Anti-Money Laundering /Counter-Financing of Terrorism conference.
“We must leverage every technological resource at our disposal to meet the demands of the global environment. Government’s use of technology in regulation and compliance must be in step with international practices,” the PM said.
Holness said NIDS would make compliance with AML/CFT requirements easier, and that he expects the use of advanced technology tied to individuals will eliminate many of the problems that are inherent in transacting legitimate business in Jamaica.
“What we have is a cradle-to-grave of biometric identification with a unique identification number being used for every Jamaican with the appropriate anti-fraud features. This source of identification will be considered conclusive for the purposes of customer due-diligence, not only for banks but for other business that require customer identification and verification,” Holness said.