AML/CFT MUTUAL EVALUATION REPORT ON BERMUDA RELEASED

On 17 January, Business Wire reported that the mutual evaluation report (MER) of Bermuda’s systems and framework, published by FATF-style regional body CFATF, highlights the outstanding work that has been done to comply with the FATF 40 Recommendations.  It is said that, of the more than 75 MER published to date, Bermuda ranks first against the Technical Compliance requirements, with 39 of the 40 Recommendations rated as Compliant or Largely Compliant, and is in the top 6 for overall level of effectiveness and one of only two jurisdictions with a high level of effectiveness in relation to its risk assessment and domestic coordination mechanisms.

https://www.businesswire.com/news/home/20200117005478/en

The report can be found at –

https://www.cfatf-gafic.org/documents/4th-round-meval-reports/13596-bermuda-4th-round-mer/file

It was adopted at the CFATF Plenary in November

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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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