Financial Crime World

Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Reporting Guidelines

Section A: General Information

When submitting an AML/CFT report to a specified financial institution (SFI), it is essential to provide general information about the SFI. This includes:

  • Name, Address, and Contact Details: Report on the SFI’s name, address, and contact details.
  • Type of Institution: Indicate whether the report is submitted by a commercial bank or a non-commercial bank.

Section B: Compliance Unit/Function

Provide an overview of the Compliance Unit/Function, including its structure and personnel. Also, report on instances of fraud committed against the institution, including attempted and actual occurrences.

  • Overview: Describe the Compliance Unit’s role in preventing AML/CFT.
  • Structure and Personnel: Report on the number of staff members and their qualifications in the Compliance Unit.
  • Fraud Occurrences: Document instances of fraud committed against the SFI, including:
    • Attempted occurrences
    • Actual occurrences

Section C: Statement on Suspicious Transactions

Report on suspicious transactions (STRs) filed by the SFI, categorized into three types:

  • Money Laundering STRs
  • Terrorist Financing STRs
  • Proliferation Financing STRs

Section D: Cash

This section is not applicable to commercial banks. Report on physical notes and coins received and held by the SFI, both inside and outside The Bahamas.

Section E: Staff Training

Report on AML/CFT-related training and qualifications of employees. Provide statistics related to:

  • Total Staff in the Institution: Report on the total number of staff members.
  • Staff who Participated in AML/CFT Training: Document the number of staff members who participated in AML/CFT training during the last 12 months.
  • Number of Board Directors who Participated in AML/CFT Training: Report on the number of board directors who received AML/CFT training.
  • Number of Staff in the Compliance Unit: Document the number of staff members working in the Compliance Unit.
  • Number of Staff with AML/CFT Qualifications: Report on the number of staff members holding AML/CFT qualifications.