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Talks held at police HQ
HIGH-LEVEL discussions centering around the National Identified Risk Framework (NIRF) took place last week at Police Headquarters, underscoring the importance of the Royal Bahamas Police Force as the primary enforcement agency of the anti-money laundering, countering of Terrorist and proliferation financing regime (AML/CFT/CFP).
AG: Several tools added to deal with international requests for exchange of information
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.
Bahamas urged to target FATF escape
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.
Bahamas in modest financial centre rankings improvement
The Bahamas has improved its ranking in a key financial centre index by four spots after plummeting 26 places in 2021, it has been revealed.
Pledge to help tackle money laundering
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.
Bahamian compliance specialist addresses gambling vulnerability
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
FATF calls for further steps on action
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.
Emphasise ‘robust regulation’ to halt correspondent loss
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.
Bahamas to send message: Banks 'cannot launder cash'
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
‘Not out of woods’ on financial crime rating
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.
AG: System upgrades tackle FATF concerns
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.
Bahamas hosting anti-financial crime training
The Financial Action Task Force’s (FATF) week-long flagship training course on combating financial crime began for Bahamian and regional regulators this morning.
FML staffers in anti laundering workshop
The FML Group of Companies has begun educating staff on their anti-money laundering and terror financing responsibilities following passage of the Gaming Bill.
Domestic banks 'low risk' over financial abuses
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
Developer denies kickback claims
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.
Governor targeting ‘Caribbean lead’ in finance crime fight
* 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.
US warns its banks on Bahamas dealings
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,
PM attacks EU action as ‘flawed’
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.
Central Bank to unveil new money laundering sanctions
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
DPM: Bahamas to 'fare well' in financial crime assessment
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
