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Central Bank releases corrigendum to AML/CFT Guidelines

The Central Bank of The Bahamas has issued a corrigendum which inserts omitted paragraphs into the AML/CFT/PF Guidelines, first published in August. 

Central Bank of The Bahamas
Friday, September 21, 2018
Friday, September 21, 2018

Following the release of the document: “Guidelines for Supervised Financial Institutions on the Prevention of Money Laundering, Countering the Financing of Terrorism & Proliferation Financing”, published on the Bank’s website in August (the “AML/CFT/PF Guidelines”), it was discovered that certain paragraphs had been inadvertently omitted from Part VII – RECORD KEEPING, in the section entitled “Verification of Identity and Other Records”.

The Central Bank has today issued a Corrigendum which inserts the omitted paragraphs into the AML/CFT/PF Guidelines. These additional paragraphs numbered 196A to 196J, should be read together with the AML/CFT/PF Guidelines.

A red-lined version of the AML/CFT/PF Guidelines showing all of the substantive changes made to the Guidelines to date, will be posted to the Bank’s website during the month of October 2018.

Read/download here:

This is an excerpt from Central Bank of The Bahamas as it appeared on September 21, 2018. For updates or to read the current version of this post in its entirety, please click here.

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Deputy Prime Minister and Minister of Finance Peter Turnquest said regulators have issued Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) guidelines, codes of practice and rules to industry stakeholders outlining best practices for verifying the identity of their customer and developing AML/CFT procedures and measures.

Prime Minister Dr Hubert Minnis addressed the Nelson Mandela Peace Summit at United Nations Headquarters in New York City, September 24, 2018. Watch a video about the event here.

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