Public Notice - FATF Public Statement on Financing of ISIL Al-Qaida and Affiliates
Published: Friday October 22nd, 2021
FATF Public Statement on ISIL, Al Qaeda and Affiliates
Supervised financial institutions (“SFIs”) and the general public are hereby informed that, on 21st October 2021, the Financial Action Task Force (“FATF”) issued a Public Statement on the financing of ISIL, Al Qaeda and their affiliates.
SFIs are reminded of the obligations to closely scrutinize their client databases, and to continuously monitor client transactions pertaining to designated entities subject to UN targeted sanctions in accordance with Section 43 of Anti-Terrorism Amendment Act, 2019, as amended and Section 3 of the International Obligations (Economic and Ancillary) Measures Amendment Act, 2019.
SFIs are also reminded of their obligations to report “hits” and suspicious activity to the Financial Intelligence Unit and the Competent Authority (the Attorney General) and respond to requests for information on whether designated entities have funds in The Bahams.
For further information, SFIs may view the Central Bank of The Bahamas’ AML/CFT/CPF Guidelines.
Questions regarding this notice should be addressed to:
The Analytics Unit
Bank Supervision Department
Central Bank of The Bahamas
Issued: 22nd October 2021
