Bahamas Prime Minister Dr. Hubert Minnis
The Bahamas has been removed from the Financial Action Task Force's (FATF's) gray list of jurisdictions considered to have strategic deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) regime.
The Bahamas was officially added to the FATF list in October, after the country failed to complete a critical onsite assessment earlier this year, which was postponed because of COVID-19 travel restrictions.
In a statement, the FATF congratulated The Bahamas for the significant progress it has made in improving its AML/CFT regime.
The regulator stated The Bahamas has strengthened the effectiveness of its AML/CFT system and addressed related technical deficiencies to meet the commitments in its action plan and remedy the strategic deficiencies identified in 2018.
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