Regulatory Alerts2025-08-05
Added · Updated
GFSR Countering Proliferation Financing Guidelines
The Group of Financial Services Regulators (GFSR) of The Bahamas has issued updated Countering Proliferation Financing Guidelines to standardize risk-based compliance across all regulated financial sectors and digital asset businesses. The framework mandates licensees to conduct proliferation financing risk assessments, implement targeted financial sanctions aligned with FATF Recommendations 1 and 7, and apply enhanced due diligence to identify high-risk customers, transactions, and trade finance activities. By harmonizing sector-specific obligations and clarifying regulatory expectations, the guidelines strengthen The Bahamas’ AML/CFT/CPF regime to mitigate proliferation threats while maintaining international compliance and financial stability.