Guidelines for Licensees on the Prevention of Money Laundering and Countering the Financing of Terrorism Finalised

Published: Wednesday October 19th, 2005

Contained in the Publications Section of this website, is the final version of the 'Guidelines for Licensees on the Prevention of Money Laundering and Countering the Financing of Terrorism'. These Guidelines incorporate both the mandatory minimum requirements of the Financial Transactions Reporting Regulations, 2000 and industry best practices for verifying customer identity and for developing anti-money laundering procedures and measures to prevent terrorist financing.

The INTERIM GUIDELINES FOR ANTI-MONEY LAUNDERING AND KNOW YOUR CUSTOMER PROCEDURES FOR LICENSEES issued April 1, 2004 have been subsumed in these Guidelines.

Licensees (or their managing agents) with any questions concerning these Guidelines should contact:

The Manager Bank Supervision Department The Central Bank of The Bahamas Frederick & Market Streets P.O. Box N 4868 Nassau, Bahamas

Tel (242) 302 9897 Fax (242) 356 3909 Email: [email protected]