Attorney General Carl Bethel speaks with members of the press.
NASSAU, BAHAMAS — The Bahamas appears set to be branded by the the European Union Commission as a high risk jurisdiction for financial crimes, with Attorney General Carl Bethel suggesting that the government was blindsided by the move.
According to Reuters, the European Commission is set to include Panama, the Bahamas, Mauritius and nine other countries to its list of states that pose a financial risks to the 28 nation bloc because of anti-money laundering and terrorism financing shortfalls.
The list which is reportedly set to be published on Thursday also includes Barbados, Botswana, Cambodia, Ghana, Jamaica, Mongolia, Myanmar, Nicaragua and Zimbabwe.
The blacklisting could cause harm to the Bahamas’ reputation in the financial services industry and comes at a time when the country’s number one industry is effectively shutdown. Read more >>