Bahamas Attains Technical Compliance in 40 of the 40 Financial Action Task Force Recommendations
The Bahamas has now attained technical compliance ratings of “Compliant and Largely Compliant” in 40 of the 40 Financial Action Task Force Recommendations – International Anti- Money Laundering, Countering of Terrorism and Proliferation Standards. The country becomes only the second jurisdiction in the Caribbean, South and North American Regions to attain such standing.
The country’s 5th Follow-Up Report was released today by the Caribbean Financial Action Task Force.
Caystone’s Statement on Sanctions arising from Russia-Ukraine Conflict
Dear Clients – As you are aware the Global response to the Russia and Ukraine conflict continues to evolve, including the imposition of increasing sanctions and other restrictive measures.
In step with other international sanctions programs, on March 12th, 2022, The Bahamas officially issued directives prohibiting transactions and other activities relating to the financial resources of the Russian Federation and those of certain entities and individuals linked to the Russian Federation.