The Bahamas and Canada have signed an Asset-Sharing Agreement, formalising an arrangement
to confiscate the proceeds of drug trafficking, money laundering and other criminal
activities.
Minister of Foreign Affairs Brent Symonette and Denis Kingsley, High Commissioner
for Canada to the Bahamas signed the Agreement for the respective governments
during a ceremony at the Ministry of Foreign Affairs in the Goodman’s
Bay Corporate Centre on March 12.
“This agreement today with Canada is symbolic of the excellent relationship
that exists between our two countries and we look forward to continued collaboration
in these and other matters,” Symonette said.
In March 1990, both governments entered into the Mutual Legal Assistance in
Criminal Matters Treaty. This treaty facilitates the gathering of evidence and
intelligence in the investigation and prosecution of criminal offences. It also
enhances the capabilities in the confiscation of the proceeds of crime.
“Mutual legal assistance treaties are concluded between two countries
for the purpose of gathering and exchanging information in an effort to enforce
criminal laws and confiscate the ill-gotten gains of criminal activity.”
“Notwithstanding the excellent cooperation that already exists between
the Bahamas and Canada with regard to sharing such assets even in the absence
of a formal agreement, in 2001 our governments commenced negotiations on an
Asset Sharing Agreement to formalise the arrangement,” he added.
The aim is to improve the effectiveness of law enforcement in both countries
in the investigation, prosecution and suppression of crime through the tracing,
freezing, seizure and forfeiture or confiscation of assets related to crime
and the creation of a framework for sharing the proceeds and disposition of
such assets.
“Despite our limited resources, the Bahamas government remains committed
to fighting the war against drugs and other criminal activities and prosecuting
those criminals that transcend international borders.”
“Cooperation between our governments in joint criminal investigations
such as narcotics trafficking and money laundering envisaged by the Mutual Legal
Assistance Treaty has been mutually beneficial to both our governments.”
Pursuant to the 1988 United Nations Convention Against the Illicit Traffic
in Narcotic Drugs and Psychotropic Substances, the government of The Bahamas
implemented the Proceeds of Crime Act 2000, where Sections 52 and 53 provide
for the establishment and administration of the Confiscated Assets Fund.
“By utilising resources confiscated from convicted criminals specifically
in the fight against crime and to assist in the prevention of crime, we can
increase our efforts in terms of improved infrastructure and increased man power,”
explained Symonette.
He added that although the Bahamas recognises that confiscated assets are beneficial
to improving its international crime fighting efforts through the improvement
of infrastructure, manpower and other projects, confiscating the profits of
criminal activities is also important as a deterrent to further illicit activities.
“In this regard, we are also pursuing negotiations with the United States
to formalise existing cooperation into an Asset Sharing Agreement,” Symonette
added, concluding his statement.
High Commissioner Kingsley noted that the Bahamas and Canada have enjoyed a
longstanding relationship that can be improved through such agreements.
“We continue to work constructively with the Bahamian government in areas
such as trade and finance, education and security,” he said.
The High Commissioner said he was pleased to have concluded the Asset Sharing
Agreement, “which is another example of the close cooperation between
our countries and the work that we are trying to do together which is trying
to fight the drugs and crimes that are international.”
The agreement also provides for the sharing of seized funds when they are confiscated
or forfeited as a result of shared criminal investigations.
“The sharing of funds will encourage continued cooperation between our
governments as we address the challenges posed in trans-national crimes,”
Kingsley concluded.
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