Financial Crime World

Bahamas Faces Calls for Improvement in Anti-Corruption Laws and Regulations

Bahamas Fails to Meet International Standards on Anti-Corruption

A recent report by the Committee of Experts of the Follow-up Mechanism for the Implementation of the Inter-American Convention against Corruption (MESICIC) has identified several areas in need of improvement in The Bahamas’ anti-corruption laws and regulations.

Issues with Oversight Bodies

The report highlights a number of issues with oversight bodies in The Bahamas responsible for preventing, detecting, punishing, and eradicating acts of corruption. These bodies include:

  • Office of the Attorney General: lacks sufficient resources to carry out its functions effectively.
  • Public Disclosure Commission: faces challenges in enforcing transparency and accountability measures.
  • Department of the Auditor General: requires additional support to conduct thorough audits and investigations.
  • Financial Intelligence Unit: needs more resources to effectively track and prevent money laundering and terrorist financing.
  • Compliance Commission: is hampered by inadequate funding and capacity.

Recommendations for Improvement

The Committee recommends that The Bahamas:

  1. Provide adequate funding for oversight bodies to enable them to perform their duties properly.
  2. Establish an independent prosecutorial service, ensuring coordination between police prosecutors and the Department of Public Prosecutions.
  3. Implement reporting requirements for acts of corruption, enabling prompt detection and investigation.
  4. Enact a Freedom of Information Act, promoting transparency and accountability in government operations.

Government Response

The Bahamas has welcomed the recommendations and taken steps to address some of the issues identified in the report. The government has:

  • Introduced a Civil Society Organization Bill, enhancing cooperation between civil society organizations and government agencies.
  • Implemented a mechanism for channeling requests for cooperation on mutual legal assistance.

Next Steps

While progress has been made, there is still much work to be done to strengthen anti-corruption laws and regulations in The Bahamas. The Committee recommends that the government:

  1. Provide additional training for public officials and employees on anti-corruption matters.
  2. Establish reporting requirements for acts of corruption, enabling prompt detection and investigation.
  3. Enact a Freedom of Information Act, promoting transparency and accountability in government operations.

The full report is available online at http://www.oas.org/juridico/english/mesicic4_rep.htm.