The Stocks & Securities Limited saga continues to make Jamaica look bad.

Why should Jamaicans and foreign investors put their money in local financial institutions when they are rife with unreliable professionals and staffed by thieves and malcontents with the government incapable of doing anything about it?

Many people have lost money with SSL and are too embarrassed to come forward. The CEOs who presided over this sorry situation have thrown their hands in the air and said they had no idea what was going on and have absolved themselves of all responsibility and culpability.

How good then is Jamaican management despite all the MBAs, plaudits, and photo shoots in the press? If you don’t know what’s going on in your own shop, should you even be managing? Do you have what it takes to be the chief executive?

The Minister of Finance Dr Nigel Clarke early this year made it known that the SSL fraud was serious and the appropriate investigative measures would be taken. The criminals would be brought to justice. He said that the FBI would be part of uncovering what transpired.

A year on, and the situation has become even more dire, highlighting the incompetence of the FSC, FID, JSE, the JCF, the Government, and local security companies.

How come salient evidence was not secured and how is it laptops vital to the investigation are still lying around the office?

This goes to show that this matter is not being given due attention or that certain parties do not want information to come to light.

Then there is the possibility that this is an inside job and that SSL, the Government and protected interests are all in on it. Crime is systemic and endemic in Jamaica.

Where else in the world would something like this take place, where else but a banana republic.

The ineptitude is astounding. Both the Minister of Finance and the head of the FSC has to come before the country and explain this.

There are those who say why should they? It’s a criminal matter and should addressed by law enforcement authorities. This in tantamount to a break-in which happens all the time in Jamaica.

That is a wrong approach. One of Jamaica’s most accomplished sons, Usain Bolt had some US$13 million of his money stolen from SSL and it is not yet clear whether any restitution has been made to him. Will he have to take that on the chin and move on?

The world is watching. It has a good opinion of Bolt and will figure if his own people can do this to one of the greatest athletes the world has ever seen, what manner of country is Jamaica? They will bolt from investing in such a crime-ridden, immoral, unscrupulous, chicanery prone country.

There are some financial institutions who are defensive, proclaiming not all Jamaican financial sector players are like SSL. That won’t stop them being tarred with the same brush and make investors think twice about placing their money with them. It is in their interests that this SSL matter gets dealt with expeditiously and the perpetrators brought to book.

Criminal activity costs Jamaica $100 billion a year. That’s far too high for such a small country and will prevent it from reaching its aspirations of becoming a developed state.

The elites in this country are silent on this SSL imbroglio and have not vociferously condemned it. Their apathy is worrisome. Instead they are more concerned about travellers bringing in goods from their journeys with minimal taxes and carnival next year and what costume they will be getting.

King Alarm dropped the ball big time on this and will have to re-evaluate its operations. Who would hire them after this bozo situation? Someone was able to climb into an open kitchen window! Are you kidding me? Who was guarding the place and isn’t the SSL building on Hope Road the country’s most important crime scene?

The communication between the security operatives was terrible because it was self-evident that not all was well and there was a breach. Who was responsible for securing the perimeter?

There are a lot of overpaid incompetents working in Jamaica and the SSL scandal demonstrates this.

Now it turns out the fraud and level of stealing that took place at SSL is larger than originally thought. It has been revealed that US$30 million was stolen affecting more than 200 accounts.

SSL joins Olint and Cash Plus as one of the biggest financial scandals in recent history. In none of these cases, has anyone gone to jail in Jamaica .The FSC was woefully inept at lancing all of these schemes.

Opposition Spokesperson on Finance Julian Robinson is absolutely right in calling for a high level investigation into this recent security breach at SSL. The country must join him in this call if it places value in doing the right thing.

Robinson said: “It is unacceptable that potential evidence, stored within these laptops, might be tampered with or destroyed, hindering the pursuit of justice.

“We implore the Jamaica Constabulary Force to do more to ensure the preservation of the investigation’s integrity. Taxpayer resources have been extensively invested in untangling the complexities of the SSL situation and any compromise resulting from negligence or deliberate actions would be an egregious disservice to the public.”

These words should be spoken by the Minister of Finance and not just the shadow spokesman. Many well-minded and decent Jamaicans would wholeheartedly agree with Julian Robinson here.