Bermuda: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
IMF Staff Country Reports, March 19, 2008
Source details
- Canonical URL
- Bermuda: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
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Bibliographic details
- Published: March 19, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451805611.002
Executive findings
- Application of risk-based approaches is particularly relevant to the insurance sector and to other types of financial and nonfinancial activities.
- The legal framework for investigation and prosecution of money laundering (ML) is well developed.
- Law enforcement and prosecutorial staff are highly motivated and professional.
- Bermuda’s Financial Investigation Unit (FIU) requires more adequate funding, staffing, and additional technical resources, including expertise in forensic accounting.
- A key strength of Bermuda’s supervisory regime is the integrated nature of financial sector supervision.
Policy recommendations and resource needs
- Strengthen application of risk-based approaches across insurance and other financial and nonfinancial activities.
- Provide the FIU with:
- Adequate funding.
- Additional staffing.
- Technical resources, including forensic accounting expertise.
- Preserve and build on the integrated supervisory framework to maintain effective oversight of the financial sector.
Thematic coverage and subject focus
- Subjects:
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Crime
- Legal support in revenue administration
- Money laundering
- Revenue administration
- Terrorism
- Terrorism financing
- Keywords:
- AML Regulations
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Caribbean
- CFT supervision
- CR
- credit union
- due diligence
- ISCR
- Legal support in revenue administration
- line of business
- Money laundering
- mutual fund
- North America
- Terrorism
- Terrorism financing
- white collar crime
Publication and document specifics
- Title: Bermuda: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
- Publication date: March 19, 2008
- Pages: 189
- Volume: 2008
- Issue: 105
- Series: Country Report No. 2008/105
- DOI: https://doi.org/10.5089/9781451805611.002
- Stock No: 1BMUEA2008001
- ISBN: 9781451805611
- ISSN: 1934-7685
International Monetary Fund. "Bermuda: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism", IMF Staff Country Reports 2008, 105 (2008), accessed 9/13/2026.
Content in this bundle
- _cr08105 - Preface