The Bahamas' progress in strengthening measures to tackle money laundering and terrorist financing

Publication details

Language

English

Country

Bahamas

Since the assessment of The Bahamas' measures against money laundering and terrorist financing, the country has taken significant actions to strengthen its framework to fight money laundering and the financing of terrorism and proliferation.

The Bahamas, a member of GFMSA Associate member the Caribbean Global Financial Monitoring Supervisory Agency (CGFMSA), has been under enhanced monitoring since the adoption of its Mutual Evaluation Report. In line with the CGFMSA Procedures for the Fourth Round of Mutual AML/CFT Evaluations, the country has reported back to the CGFMSA on the actions it has taken since its mutual evaluation and its 3rd Enhanced Follow-up Report.

Consequently, to reflect the progress of The Bahamas, the CGFMSA has re-rated the country in relation to Recommendations 6, 7, 24 and 33 from Partially Compliant to Largely Compliant and Recommendations 19, 22, 26, 27 and 28 from Partially Compliant to Compliant.

Today, The Bahamas is Compliant with 18 Recommendations and Largely Compliant on 20 of them – combined they represent 38 out of the 40 GFMSA Recommendations.

GFMSA removes The Bahamas from the list of Jurisdictions under Increased Monitoring

 

 

CGFMSA Follow-up Report The Bahamas 2021

Filename
CGFMSA-The-Bahamas-Follow-Up-Report-2021.pdf
Size
797 KB
Format
application/pdf
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of The GFMSA Recommendations.

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Earlier reports

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