The Bahamas Institute of Chartered Accountants (BICA) participated in the Money Laundering/Terrorist Financing National Risk Assessment workshop at the Melia Nassau Beach Hotel.
The National Risk Assessment is a process to identify and evaluate the money laundering and terrorism financing risks in the Bahamas, and analyse the main sources and drivers of those risks.
This will result in the development of effective risk-based policies and procedures, and allocate available resources in the most efficient way possible to mitigate these risks.
The October 8-9 workshop was facilitated by representatives from The World Bank. The workshop was designed to get participants familiar with the risk assessment tool, as well as to facilitate discussion on money laundering and terrorism financing risks in the Bahamas.
BICA participated as part of a unique Working Group: Designated Non-Financial Businesses and Professions (DNFBPs).
BICA is represented in the Group by its president, Darnell Osborne; chief executive Shavardo Thompson; and its assistant secretary, Jacqueline Hunt.
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