The Bahamas

The Bahamas in its 8th Follow-Up Report has addressed the deficiencies noted in the Core and Key Recommendations rated PC/NC (R. 1, 5, 10, 13, 23, 35, SR. I and III) to a level that is comparable to at least an LC. It is therefore recommended to Plenary that The Bahamas should be allowed to exit the third round follow-up process.

The Bahamas 8th Follow-Up Report

JURISDICTIONS WHICH EXITED THE FOLLOW-UP PROCESS: The Bahamas

The November 2015 Plenary recognised that The Bahamas had made significant progress in addressing the deficiencies identified in their 2007 Mutual Evaluation Report and therefore agreed that The Bahamas should exit the follow-up process.

The Bahamas has addressed the deficiencies noted in the Core and Key Recommendations rated PC/NC (R. 1, 5, 10, 13, 23, 35, SR. I and III) to a level of compliance that is comparable to at least an LC.

A detailed analysis of compliance with these Recommendations and progress made with other Recommendations, can be found in The Bahamas’ 8th Follow-Up Report.

The Fourth Round of AML/CFT Assessments Continues: Pre Assessment Training of The Bahamas

On the occasion of preparation for the upcoming 4th Round Mutual Evaluation, the CFATF in coordination with the Attorney General of The Bahamas, held pre assessment training for The Bahamas on July 1st and 2nd, 2015 at the Super Clubs Breezes Resort Hotel in Nassau, The Bahamas.

The training was attended by approximately fifty officials, mostly from the public sector and included staff from the Office of the Attorney General, the Ministry of Finance, the Ministry of Financial Services, the Financial Intelligence Unit, Customs Department, Immigration Department, the Central Bank, the Securities Commission, the Compliance Commission, the Insurance Commission, the Gaming Board, the Police, the Defence Force and representatives of the private sector and DNFBPs.

As part of the training, attendees participated in a workshop, where they had the opportunity to exchange ideas on the implementation of standards and discuss possible opportunities for The Bahamas to demonstrate the effectiveness of the AML/CFT system. Issues related to the site visit during the Mutual Evaluation process were also discussed.

The Commonwealth of The Bahamas pledges its full support to Chairman Jallow and The CFATF as Deputy Chair 2012-2013

The Honourable Allison Maynard-Gibson, Attorney General and Minister of Legal Affairs, Photo Source: Google ImageFollowing the unanimous decision by the CFATF Council of Ministers at Special Ministerial III which was held in Miami, United States on Friday 25th August 2012, Senator The Honourable Allison Maynard-Gibson, Attorney General and Minister of Legal Affairs, formally accepted the position on behalf of The Commonwealth of The Bahamas at Plenary Meeting XXXVI in the Virgin Islands.

MER of The Bahamas

Prime Contact of The Bahamas

Attorney General
Attorney General's Office
P.O. Box N3746, Nassau
The Bahamas
1 242 322 1141-4, 1 242 326 1877