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"content": "Implementing agencies fall under Part III, Clauses 4 and 6. The Bill proposes the establishment of the Financial Reporting Centre, the Anti-Money Laundering Advisory Board and the Assets Recovery Agency. It also seeks to establish the criminal Assets Recovery Fund. These bodies shall be the vehicles to implement the objectives of the Bill and shall complement each otherâs functions. The main objective of the Financial Reporting Centre shall be to assist in the identification of the proceeds of crime and combating money laundering. It shall also have the power to inspect the reporting institutions. Information from reporting institutions and supervisory bodies shall be received by the centre and disseminated to investigating authorities and other bodies. The Anti- Money Laundering Advisory body shall advise the Director of the Financial Reporting Centre on how to perform his or her duties. The Asset Recovery Agency shall be the body responsible for the recovery of any proceeds of crime and laundered money covered in the Act. It shall be a semi-autonomous body under the stewardship of the Attorney- General. The agency shall also administer the monies of the Criminal Assets Recovery Fund which is to be established in Part IX."
}