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Opalesque Industry Update - The Financial Action Task Force, the world's anti-money-laundering standard-setter, congratulates The Bahamas for the significant progress it has made in improving its AML/CFT regime. "The Bahamas has strengthened the effectiveness of its AML/CFT system and addressed related technical deficiencies to meet the commitments in its action plan and remedy the strategic deficiencies identified by the FATF in October 2018," FATF said. The FATF now de-lists The Bahamas from the list of Jurisdictions under Increased Monitoring. The Bahamas is therefore no longer subject to the FATF's increased monitoring process. The Bahamas will continue to work with CFATF (the Caribbean Financial Action Task Force, a FATF-style regional body or FSRB) to improve further its AML/CFT regime. On the list still are: Albania, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Myanmar/Burma, Nicaragua, Pakistan, Panama, Syria, Uganda, Yemen and Zimbabwe.
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Industry Updates
FATF removes The Bahamas from list of jurisdictions under increased monitoring
Monday, December 21, 2020
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