What NAMLC does
NAMLC advises Ministers on:
| Detection and prevention Detecting and preventing money laundering, terrorist financing and proliferation financing in Bermuda. | Policy Developing policies to combat these crimes. | National action plan Planning the national response, including Bermuda’s part in the international effort. |
Understanding Bermuda’s Money Laundering and Terrorist Financing Risks
Bermuda’s 2024 Money Laundering and Terrorist Financing National Risk Assessment identifies and assesses the risks facing the jurisdiction and helps inform how Government, regulators, law enforcement and industry respond.
This video series explains the assessment, Bermuda’s response and why protecting the financial system matters to the wider community.
Read Bermuda’s 2024 National Risk Assessment
What Bermuda Is Doing
Understanding risk is only part of the work.
Bermuda’s 2024 National Risk Assessment examined the money laundering and terrorist financing risks facing the jurisdiction. Government and its partners continue to respond through stronger legislation, supervision, information sharing and training.
Watch to learn more about what Bermuda is doing to protect its financial system.
Why This Matters to Bermuda
Protecting Bermuda’s financial system is about more than regulatory compliance. It supports economic stability, transparency and confidence in the jurisdiction, while helping to protect Bermuda’s reputation and the interests of the wider community.
Legislative reform and consultations
Bermuda’s anti-money laundering and anti-terrorist financing (AML/ATF) regime was positively assessed against the Financial Action Task Force (FATF) Standards in 2020. FATF has since revised its Standards, so Bermuda is reviewing its legislation ahead of its 5th Round Mutual Evaluation, which begins in October 2026.
NAMLC thanks industry for the public–private partnership that supports Bermuda’s commitment to remaining a compliant jurisdiction.
Send questions about consultations to Info-NAMLC@gov.bm.
Trustee Act - Closed 4 Dec 2025
Proposed changes to the Trustee Act to be set before Parliament.
Consultation Paper on Trustee Act – November 2025 (PDF, 294 KB)
Proceeds of Crime (Miscellaneous) Act 2025 – draft Bill Closed 8 Sep 2025
Following broad industry support for the July 2025 consultation paper, the detailed draft Bill amending the Proceeds of Crime Act, the POCA Supervision and Enforcement Act and the POCA Regulations was shared for further review.
Consultation Draft – Proceeds of Crime (Miscellaneous) Act 2025, 26 Aug 2025 (PDF, 1.25 MB)
Proceeds of Crime Act amendments - Closed 30 Jul 2025
Issued 10 July 2025. Sets out the proposed amendments to the Proceeds of Crime suite of legislation.
Earlier consultations
Proposed amendments to AML legislation – November 2021 (closed 30 Nov 2021)
Proposed amendments to AML legislation – November 2018
National risk assessments
Led by NAMLC, Bermuda regularly assesses the money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risks it faces. Public and private sector stakeholders should use the latest assessments as reference documents.
Key terms explained
Money laundering
Making criminally derived money look as if it came from a legitimate source. Launderers usually move funds through legal channels in a series of transactions that hide who owns the money, where it came from or where it is going.
It is a criminal offence under sections 43–45 of the Proceeds of Crime Act 1997 and section 8 of the Anti-Terrorism (Financial and Other Measures) Act 2004.
Terrorist financing
Providing money or other support to terrorism, or to people who encourage, plan or carry out terrorism. The funds may be legitimate or criminal in origin. Those involved often use the same techniques as money launderers to avoid detection and protect their sponsors.
It is a criminal offence under sections 5–8 of the Anti-Terrorism (Financial and Other Measures) Act 2004.
Proliferation financing
Providing money or financial services for nuclear, chemical or biological weapons, or the means to deliver them. This covers their manufacture, acquisition, possession, development, export, trans-shipment, brokering, transport, transfer or stockpiling.
Report suspicious activity
| If you suspect someone has committed or attempted a money laundering or terrorist financing offence, you must report it to the Financial Intelligence Agency (FIA). The FIA offers one-to-one training to anyone with a duty to report, covering how to spot suspicious activity and file a report. Phone: (441) 292-3422 Email: Send us an email Mail: The Director, Financial Intelligence Agency Strata ‘G’ Building, 30A Church Street, 6th Floor Hamilton HM11 |
International partners
Financial crime crosses borders, so Bermuda works within global frameworks:
- Financial Action Task Force (FATF): the inter-governmental body that sets global standards for anti-money laundering and countering the financing of terrorism.
- Caribbean Financial Action Task Force (CFATF): the FATF regional body of which Bermuda is a member. It checks that members put the international standards into practice.
- International Monetary Fund (IMF): supports the fight against financial crime through assessments, technical assistance and policy development.
Related documents
Risk assessments
- 2024 National Risk Assessment – ML/TF
- 2025 Proliferation Financing NRA
- Report on 2020 ML/TF Risk Assessments
- 2020 TF NRA Summary Industry Report
Newsletters
- July 2026 · May 2026
- 2025 Year End · Q3 Oct 2025 · Q2 Jul 2025 · Q1 Apr 2025
- 2024 Year End · Aug 2024 · Apr 2024
- Archive (2015)
Ministerial advisories
- 1/2021
- 1-2019 · 2-2019 · 3-2019
- 1-2018 · 2/2018 (higher-risk jurisdictions) · 3/2018
- March–December 2015
Guidance
Sanctions and legislation