On 18th December, Eye Witness News reported that the re-evaluation had found the country compliant with the majority of FATF recommendations.  FATF said its report does not address what progress has been made to improve effectiveness, and that a later follow-up assessment will analyse progress on effectiveness, and could result in another re-rating of immediate outcomes at that time.  The Bahamas will remain in enhanced follow-up on the basis that it had a low or moderate level of effectiveness for 7 or more of the 11 effectiveness outcomes.  The articles goes on to mention some of the measures taken by the Bahamas to meet FATF requirements.



The report itself is available online.  It is a follow-up to the 2017 mutual evaluation of the country.  The Bahamas has been re-rated on Recommendations 1, 2, 6, 10, 12, 15, 17, 18, 23, 25, 30, 32 and 35.   However, based on the revisions to the revisions to Recommendations 8 and 21, the ratings remain unchanged.   Whilst the regional body (CFATF) welcomed steps taken to improve its technical compliance with Recommendations 5, 7, 19, 22, 26, 27, 28, 33; it said that insufficient progress has been made to justify a re-rating of these Recommendations.



Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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