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

All News

Hurricane Dorian Exigency Order of September 2, 2019

IMPORT PROCESS FOR HURRICANE RELIEF SUPPLIES under the Hurricane Dorian Exigency Order of September 2, 2019 Under the Exigency Order, hurricane relief supplies can be imported into The Bahamas duty free and VAT free based on the conditions outlined in the Order. Importers must complete a simple, one-page application form to benefit from these tax…

Press Release (Abaco): Government & Stakeholders regarding Click2Clear and system changes

    JOINT STATEMENT MINISTRY OF FINANCE, BAHAMAS CUSTOMS AND EXCISE DEPARTMENT AND THE ABACO CHAMBER OF COMMERCE Government remains open to stakeholder feedback as Abaco businesses navigate system changes Business confidence improves after constructive meeting with Government delegation Source:                               Central Communications Unit, Ministry of Finance Date:                                   August 26, 2019 Contact:                    A meeting between…

Questions about Click2Clear?

  Visit our FAQ’s Page here.

Click2Clear (BESW) Staff Training Notice

Attention ALL Customs Staff Please be advised of the following dates. RSVP through your section heads to organize and reserve your training sessions.