The Central Bank of the Bahamas published Governor John A. Rolle’s opening remarks for the Sixth Annual Bahamas Research Conference on Financial Crime, framing the event around the country’s ongoing strengthening of anti-money laundering (AML) and financial crime controls and the need for more objective evidence on how international standards are applied. The remarks highlighted the costs and trade-offs of AML and financial crimes regulation, including potential unintended effects on financial inclusion, ease of doing business and legitimate business models. They also pointed to research priorities on how the global risk-based approach can achieve effective outcomes at lower cost for smaller economies and financial centres, and on making potential bias in the application of international standards quantifiable. Against the backdrop of preparations for the next Financial Action Task Force (FATF) mutual evaluation, the Governor noted that, in 2024, the Attorney General’s Office, the Central Bank and other regulators and law enforcement agencies updated the Bahamas’ National Risk Assessment on money laundering and financial crimes, intended to support further reforms and national awareness-building. The Central Bank indicated it is already planning for the 2026 conference.
Central Bank of the Bahamas 2025-01-16
Central Bank of the Bahamas links updated national money laundering risk assessment to preparations for the next FATF mutual evaluation in conference remarks
The Central Bank of the Bahamas released Governor John A. Rolle’s remarks at the Sixth Annual Bahamas Research Conference on Financial Crime, emphasizing efforts to enhance anti-money laundering (AML) controls. He addressed AML regulation costs, impacts on financial inclusion, and business operations, highlighting research priorities for effective outcomes in smaller economies. The Governor noted the 2024 update of the Bahamas’ National Risk Assessment on money laundering, preparing for the next Financial Action Task Force mutual evaluation.