Regulatory Alerts2019-06-26
Corrigendum to the AML/CFT/PF Guidelines for Supervised Financial Institutions
The Central Bank of The Bahamas issued this corrigendum to revise the record-keeping obligations for supervised financial institutions under its AML/CFT/PF Guidelines. It mandates a uniform five-year retention period for identity, transaction, and accounting records, with specific provisions covering liquidated companies, facility holders, trustee services, and internal suspicious activity reports. The updated requirements ensure that financial institutions maintain comprehensive audit trails enabling authorities to efficiently profile accounts, trace fund sources and destinations, and support money laundering or terrorist financing investigations.
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