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AMENDED GUIDANCE NOTE ON ADMINISTRATIVE MONETARY PENALTIES FOR SUPERVISED FINANCIAL INSTITUTIONS

Published: Tuesday May 18th, 2021
Central Bank of The Bahamas
NOTICE
Re: AMENDED GUIDANCE NOTE ON ADMINISTRATIVE MONETARY PENALTIES FOR SUPERVISED FINANCIAL INSTITUTIONS      
UNDER THE BAHAMAS’ ANTI- MONEY-LAUNDERING AND COUNTERING THE FINANCING OF      
TERRORISM REGIME, 2018 
To: Supervised Financial Institutions

The Central Bank of The Bahamas hereby notifies its supervised financial institutions (“SFIs”) of amendments to the Guidance Note on the Administrative Monetary Penalties for Supervised Financial Institutions Under The Bahamas’ Anti-Money Laundering and Countering the Financing of Terrorism Regime (AML- AMP Regime), published on the 14th December, 2018, and recently revised on the 19th November, 2020.

SFIs are hereby advised that:

Paragraphs 39 and 40 of the Schedule to the Guidance Note were inadvertently omitted from the Schedule when it was amended in November, 2020. These paragraphs have been re-inserted in the Schedule and have also been re-numbered as paragraphs 31 and 32 respectively.

This Notice is accessible via the hyperlink provided, or alternatively by visiting the website www.centralbankbahamas.com and viewing the document on the main page: Latest News→ “Amendments to the AML-AMP Regime” or Bank Supervision → Regulatory Framework → Policies & Guidance Notes.

Comments or questions regarding this Notice should be directed to:

The Policy Unit

Bank Supervision Department

Central Bank of The Bahamas

Market Street

P.O. Box N-4868

Nassau, Bahamas

Tel: (242) 302-2615

Fax: (242) 356-3909

Email: [email protected]

Issued: May 18, 2021

Document(s)
AMP AML Guidance Note Revised May 2021
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