The Bermuda Monetary Authority has published an update on the National Anti-Money Laundering Committee’s consultation on proposed amendments to Bermuda’s Proceeds of Crime legislative framework, including the Proceeds of Crime Act, the Proceeds of Crime (AML/ATF Supervision & Enforcement) Act and the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations. Stakeholders are invited to provide written comments on the proposed changes by 8 September 2025. The consultation is positioned as part of Bermuda’s review of its AML/ATF legislation following revisions to Financial Action Task Force standards since Bermuda’s 2020 assessment, and ahead of the 5th Round Mutual Evaluation commencing in October 2026. A consultation paper issued on 10 July 2025 drew broad industry support and requests to review detailed provisions, prompting the release of a consultation bill for further review.
Bermuda Monetary Authority 2025-08-27
Bermuda Monetary Authority publishes NAMLC consultation bill on amendments to Bermuda proceeds of crime AML and ATF laws
The Bermuda Monetary Authority updated on the National Anti-Money Laundering Committee’s consultation about amending Bermuda’s Proceeds of Crime framework. This aligns with Financial Action Task Force standards and precedes the 5th Round Mutual Evaluation in October 2026. A consultation paper issued in July 2025 received broad industry support, leading to a consultation bill for further review.