Revised Anti-Money Laundering Examination Forms

Posted on: March 19, 2019

Authored by: Compliance Commission
Source: Compliance Commission
Date: March 27, 2014

The Compliance Commission (the Commission) has revised its Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Examination Forms which were last revised in 2010.

The examination forms were revised to clarify:

  • The requirement for a written Risk-based AML/CFT policies and procedures document;
  • Examination of financial institutions with a branch or branches;
  • What comprise a proper sample of facilities for examination;
  • Examination period;
  • The requirement for AML/CFT staff training; and
  • What is an AML/CFT internal compliance review.

The purpose of the Commission’s examination forms is to assess the level of compliance of financial institutions with AML/CFT laws and guidelines.  The forms are intended for the use of financial institutions supervised by the Commission and accountants appointed by the Commission to conduct AML/CFT on-site examinations on its behalf.

Click here to download the revised forms.  The forms can also be downloaded from the Commission’s website under the menu heading “How Do I/ Get an On-site or Off-site Examination Form.”  The forms are in Adobe Acrobat format and are able to be completed and saved with the use of a computer.

Financial Institutions supervised by the Commission and Accountants are reminded that a Letter of Appointment should be obtained from the Commission prior to the commencement of an AML/CFT On-site Examination.

The Commission can be contacted at the address below:

Second Floor, Charlotte House
Shirley & Charlotte Streets
P.O. Box N-3017
Nassau, Bahamas
Telephone: (242) 397-4198
Telefax: (242) 322-6968

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