Regulatory Alerts2025-03-11
Added · Updated
Securities Commission of The Bahamas Notice on FATF Public Statement Regarding DPRK, Iran and Myanmar
The Securities Commission of The Bahamas informs licensees and registrants that the Financial Action Task Force’s calls for action regarding the Democratic People’s Republic of Korea, Iran, and Myanmar remain in effect. Licensees and registrants are required to apply enhanced due diligence and, in serious cases, counter-measures to business relationships and transactions involving these jurisdictions to mitigate money laundering, terrorist financing, and proliferation financing risks. This notice serves as a reminder of existing obligations under the International Obligations (Economic Ancillary Measures) Orders for the DPRK and Iran.