NASSAU, BAHAMAS — The Bahamas has officially been removed from the Financial Action Task Force’s (FATF) grey list of nations deemed to have deficiencies in their anti-financial crime defenses, the Office of the Attorney General (OAG) announced yesterday.
This follows the FATF conducting an on-site visit to the country at the end of last month.
“The FATF congratulated The Bahamas for the ‘significant progress’ it has made in improving its AML/CFT/CFP regime,” the OAG statement noted.
It also quoted the FATF as stating: “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 by the FATF in October 2018.
