Bahamian Attorney General Assumes Leadership Of CFATF

by Amanda Banks, Tax-News.com, London

18 October 2002

Bahamian Attorney General and Minister of Education, Alfred Sears yesterday took over from Bonaparte Gautreaus Pineyro of the Dominican Repubic as chairman of the Caribbean Financial Action Task Force.

According to to the Bahamas Information Services (BIS) department, Mr Sears suggested that his new position will afford the jurisdiction a stronger voice on money laundering issues with international organisations such as the OECD and the FATF, and added that:

'Additionally, The Bahamas will benefit from deeper regional ties with our Caribbean partners in the fight against money laundering.'

The Bahamas is already playing host to this week's CFATF plenary meeting, and the mutual evaluation of the jurisdiction's anti-money laundering and regulatory regime headlined the agenda of the meetings, according to reports in the local media.

Minister of Financial Services and Investments, Allyson Maynard-Gibson explained that: 'It is extremely important for The Bahamas...to take the lead, and to be seen as a leader in the financial services industry.'

'The Attorney General will be able to say, as we have been saying all along, that we absolutely condemn money laundering and we will ensure as best we can that it does not exist within our shores.'

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