Addressing a US-Bahamas Narcotics Joint Task Force Meeting during December, the newly appointed American Ambassador to the Bahamas, Richard Blankenship, indicated that the fight against drug trafficking includes not just interdiction, but also the combating of money laundering — by taking the profit out of the drug trade.

He took the opportunity to commend the activities of the Financial Intelligence Unit in detecting money laundering, noting that such have made The Bahamas significantly less vulnerable to exploitation by drug money launderers and other financial criminals. The new Ambassador further commended The Bahamas for steps taken to ensure that Bahamian financial institutions are not being used by those who would finance, assist or otherwise support terrorism.

The FIU was appointed in 2001 as part of the enhanced legislative and regulatory regime introduced by the Bahamas Government, becoming the 54th member of the international Egmont Group.

The Financial Intelligence Unit of The Bahamas has the responsibility to receive, analyse, obtain and disseminate information relating to the proceeds of offences under the Proceeds of Crime Act, 2000.