The Bahamas remains determined in its stance against money laundering and according to Prime Minister H.A. Ingraham plans to introduce and adopt additional legislative amendments relevant to the regulation and supervision of the financial services sector.
The Prime Minister stated that it is the intention of the Government to ensure that “..The Bahamas’ practice is consistent with its rhetoric and that The Bahamas’ financial services sector is – and is seen and recognised to be – clean, well-regulated and well supervised. This is a very important plank in our economic building, and we will ensure that we do what is necessary to remain a major international partner in the industry.”
The Government is committed to undertaking action in response to identified weaknesses in the financial regulatory and supervisory system, as well as in the administrative and legal processes to counter money laundering, corruption and criminality in general.