Tuesday, October 30, 2018

Attorney General’s Office: Public Statement on FATF ICRG Announcement

By Deandra Hamilton

The Caribbean Financial Action Task Force (CFATF) conducted a mutual evaluation of The Bahamas during an onsite visit (November 30, 2015 to December 11 2015). The Bahamas’ CFATF Mutual Evaluation Report (MER) was approved at the May 2017 CFATF Plenary in Trinidad and Tobago. The report provided a summary of the AML/CFT measures in place in The Bahamas, analysis of the country’s level of compliance with the FATF 40 Recommendations, the level of effectiveness of the AML/CFT regime, and provided recommendations on how the regime could be strengthened.

Results of the CFATF MER reflected that the country received ‘largely compliant or compliant’ ratings in 18 of the 40 FATF Recommendations, while posting ‘partially compliant’ ratings in 21 FATF Recommendations and ‘non-compliant’ rating in one (1) FATF Recommendation.  Read more >>