Bahamas Compliance Regulations Tighten Grip on Banks
The Bahamas Financial Intelligence Commission (BFIC) has been established to enforce compliance with anti-money laundering rules and regulations in the financial sector. As an independent statutory authority, the BFIC is responsible for ensuring that designated financial institutions comply with relevant laws and regulations.
Commission Responsibilities
- Enforce compliance with:
- Financial Transactions Reporting Act of 2000
- Financial Transactions Reporting Regulations of 2000
- Financial Intelligence (Transactions Reporting) Regulations of 2001
Commission Members
The Commission consists of three members appointed by the Governor-General, each bringing a wealth of experience in:
- Banking
- Industry
- Law
- Law enforcement
Secretariat Location
The secretariat is located within the Ministry of Finance at the Cecil Wallace-Whitfield Centre on Cable Beach in Nassau.
Contact Information
Phone Numbers
- (242) 604-4331
- (242) 604-4322
Email Address
Physical and Postal Addresses
- #31 Poinciana House, East Bay Street
- Postal Box N-3017, Nassau