The Attorney General has provided an insight on the government’s case management system to help facilitate the management of responses to international requests for exchange of information.
The Bahamas has been urged to “prioritise” escaping the Financial Action Task Force’s (FATF) monitoring list as all its recent woes “flow” from this.
PRIME Minister Perry Christie has pledged the country’s full support regarding anti-money laundering initiatives along with a concerted effort to combat the financing of acts of terrorism. Mr Christie said serious attention to the financial services sector in particular was important as more countries in the region are moving away from being based on goods to a delivery of services.
A BAHAMIAN compliance specialist has educated Jamaican bankers and financial services providers on how to prevent money laundering in the gaming industry.Cheryl Bazard, for a third year, was invited to present at Jamaica’s annual Anti-Money Launderin
THE Bahamas has been praised for its efforts to tackle money laundering and the funding of terrorism in a new report by the Financial Action Task Force (FATF) - but Attorney General Carl Bethel said experts wanted to see further steps taken by the country.
The Bahamas’ “robust regulatory framework” and favourable ratings by international watchdogs should encourage correspondent banks to maintain relationships with this nation’s financial institutions, a well-known compliance officer believes.
THE Central Bank wants to tell the world that the Bahamas’ international banking sector “cannot launder cash”, with virtually all institutions having ceased taking such deposits.The regulator, unveiling the results of an anti-money laundering/counter
The Bahamas cannot afford to “prematurely celebrate” its upgraded compliance with global anti-financial crime standards when it remains on two “watch lists” and under “enhanced” scrutiny.
THE Bahamas has addressed several issues that resulted in the Financial Action Task Force (FATF) listing it among nations with deficiencies in their anti-financial crime defenses, the attorney general said yesterday.
The Financial Action Task Force’s (FATF) week-long flagship training course on combating financial crime began for Bahamian and regional regulators this morning.
The FML Group of Companies has begun educating staff on their anti-money laundering and terror financing responsibilities following passage of the Gaming Bill.
The Central Bank yesterday pronounced that domestic banking presents a “low risk” for financial crime, with the main vulnerabilities stemming from three industries - gaming, real estate and money transmission.The regulator, unveiling findings based o
THE developer of Blackbeard’s Cay off Nassau has been named in St Maarten press reports in connection with a bribery claim that reaches to the highest levels of government in that country.
* Bahamas must ‘aspire’ to ‘low medium’ rating * Central Bank goes to ‘continuous’ AML watch * Moving to address CFATF deficiencies
THE Central Bank’s governor yesterday said the Bahamas needs to target “a Caribbean leadership position” by reducing its financial crime risk profile to a ‘low medium’ ranking. John Rolle, responding to Tribune Business questions following the release of the Central Bank’s new anti-money laundering/counter terror financing strategy, said the move to “continuous” supervision of such risks would address one of the deficiencies identified in the Caribbean Financial Action Task Force’s (CFATF) assessment of the Bahamas.
The US government’s call for greater scrutiny of The Bahamas will not have any “immediate or significant fallout” for this nation’s key banking relationships, a senior banker said yesterday.Gowon Bowe, the Clearing Bank Association’s (CBA) chairman,
The prime minister yesterday slammed the “flawed process” that resulted in the European Union (EU) branding The Bahamas as a “high risk” jurisdiction for financial crimes.
The Central Bank plans to create a new sanctions regime for anti-money laundering deficiencies, as it bids to move the Bahamas from a ‘high risk’ to “at least medium risk” jurisdiction.John Rolle, the regulator’s governor, responding to the Caribbean
THE Government is confident The Bahamas will “fare well” in the latest assessment of its anti-financial crime defences following corrective action by the Minnis administration.K Peter Turnquest, pictured, the deputy prime minister, yesterday said the
DR Cassandra Nottage has been appointed to the post of national identified risk framework coordinator, according to a press release from the Office of the Attorney General.
The risk and compliance space has been inundated with changing landscapes during the first six months of this new decade. Here in The Bahamas, many risk and compliance professionals will have thought that the 2018-2019 regulatory overhaul was a daunt