Anti-Money Laundering & Compliance

The Bahamas is a jurisdiction that understands that money laundering is a threat to the offshore and international financial services industry worldwide.

The Bahamas anti-terrorism and counter-money laundering legislation which is continually updating to meet global best practices and standards. Bahamian laws on the prevention of money laundering, and KYC requirements for financial institutions are defined in the Proceeds of Crime Act, 2000 (Act No. 44 of 2000), the Financial Transactions Reporting Act, 2000 (Act No. 40 of 2000), and the Financial Transactions Reporting Regulations, 2000 (Statutory Instrument No. 111 of 2000).