The Government of Bermuda, through the National Anti-Money Laundering Committee (NAMLC), today announced the publication of the 2024 National Risk Assessment (NRA) on Money Laundering and Terrorist Financing. This marks the fourth assessment in Bermuda’s ongoing series, underscoring the jurisdiction’s deepening expertise in identifying, assessing, and understanding Money Laundering and Terrorist Financing (ML/TF) risks.

The 2024 NRA builds upon Bermuda’s extensive experience in risk-based regulation and reflects the jurisdiction’s commitment to continually evaluating potential risks arising from new financial products, business practices, delivery mechanisms, and evolving technologies. The findings will inform national AML/ATF policy and action plans, while also providing the private sector with crucial insights to strengthen operational resilience in a dynamic global environment.

“The Government remains firmly focused on protecting Bermuda from financial crime and related nefarious activities,” said Premier and Minister of Finance, the Hon David Burt. “The 2024 NRA reflects our collective vigilance and longstanding commitment across both public and private sectors to ensure Bermuda continues combating money laundering and terrorist financing effectively.”

This comprehensive assessment was led by NAMLC, with active cooperation across all competent authorities, including financial regulators, market supervisors, legislative bodies, and prosecutorial services, and supported by private sector stakeholders.

Attorney General and Minister of Justice, the Hon. Kim Wilkerson added: “On behalf of Cabinet, thank you to everyone who invested time and rigour this assessment demanded. The work done exemplifies Bermuda’s high standards and affirms our commitment to confront emerging risks precisely while keeping our jurisdiction anchored in resilience and the rule of law.”

The report reinforces Bermuda’s dedication to maintaining robust AML/ATF systems, supporting both business confidence and jurisdictional resilience.

 The report can be found here: What is NAMLC? | Government of Bermuda.