Completion of FATF on-site visit and courtesy call

The Financial Action Task Force (FATF) International Co-Operation Review Group of the Americas (ICRG) recently concluded its on-site visit to The Bahamas. The visit was conducted partially in person and partially by virtual means, with the remaining eight members of the ICRG participating remotely.

The on-site visit involved a full review of the implementation and effectiveness of all the reform measures implemented by The Bahamas over the past several years; in-person discussions and questioning of Regulatory Authorities, which oversee the operations of the financial services and non-banking service providers; as well as a successful dialogue with private sector service providers.

Upon the conclusion of the on-site visit, the FATF officials paid a courtesy call upon the Prime Minister Dr. Hubert A. Minnis in the Office of the Prime Minister. The prime minister welcomed the delegation and expressed profound gratitude to them on behalf of the Bahamian people for their commitment and dedication displayed by having undertaken travel to The Bahamas in the height of the second surge of the pandemic. He also reiterated the highest-level political commitment to the laudable goals of the FATF, in seeking the elimination of all forms of financial, terrorism and proliferation crimes, and all identified risk offenses.

The Bahamas is now awaiting the final assessment and recommendations of the ICRG on the question of the delisting of The Bahamas from the FATF Gray List.

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source https://thenassauguardian.com/completion-of-fatf-on-site-visit-and-courtesy-call/