The Minister of Legal Affairs and Constitutional Reform, Hon. Kathy Lynn Simmons, JP, MP today issued the AML-ATF Advisory 1/2022 (below) regarding the Risks Relating to Deficiencies in Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) Systems and Controls in Specified Jurisdictions.
The Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008 (POCA Regulations) require the Bermuda regulated sector and relevant persons to apply enhanced customer due diligence to high-risk countries.