Bermuda Confirmed as a Global Leader in the Fight Against Money Laundering and Financing of Terrorism and Proliferation

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Following the recent assessment carried out on Bermuda’s regulatory system, which lasted for 14 months, by the Caribbean Financial Action Task Force (CFATF), and the global intergovernmental Financial Action Task Force (FATF), the country has been confirmed to have the highest compliance with an international standard against money laundering. The assessment report published by CFATF points out how Bermuda has complied with 39 out of the 40 recommendations of the FATF and has ranked it as the first among 75 mutual evaluation reports (MER) published till date.

While speaking at a press conference yesterday, Jan 17, the Minister of Finance of the country, Hon. Curtis L. Dickson reiterated the commitment of the Government to establish a rigid framework that will foster strict adherence and compliance with the appropriate global standards, which is evident in a report published by the CFATF. Roland, the CEO of the Bermuda Business Development Agency also acknowledged the evaluation report as a significant achievement and a proof of the integrity of the nation in global business.