The Bahamas' progress in strengthening measures to tackle money laundering and terrorist financing

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Since the assessment of The Bahamas' measures against money laundering and terrorist financing, the country has taken significant actions to strengthen its framework to fight money laundering and the financing of terrorism and proliferation.

The Bahamas, a member of FATF Associate member the Caribbean Financial Action Task Force (CFATF), has been under enhanced monitoring since the adoption of its Mutual Evaluation Report. In line with the CFATF Procedures for the Fourth Round of Mutual AML/CFT Evaluations, the country has reported back to the CFATF on the actions it has taken since its mutual evaluation and its 3rd Enhanced Follow-up Report.

Consequently, to reflect the progress of The Bahamas, the CFATF has re-rated the country in relation to Recommendations 6, 7, 24 and 33 from Partially Compliant to Largely Compliant and Recommendations 19, 22, 26, 27 and 28 from Partially Compliant to Compliant.

Today, The Bahamas is Compliant with 18 Recommendations and Largely Compliant on 20 of them – combined they represent 38 out of the 40 FATF Recommendations.

CFATF Follow-up Report The Bahamas 2021

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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Earlier reports

Related materials

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems

The FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems sets out the evaluation process.