The Government of Bermuda released a report summarizing the outcome of the jurisdiction’s 2020 terrorist financing national risk assessment.
Bermuda’s Minister of Legal Affairs and Constitutional Reform announced an advisory covering the anti-money laundering and counterterrorist financing risks arising from a number of jurisdictions, as highlighted in the most recent public statements by the Financial Action Task Force.
Consulting firm McKinsey told Wirecard last year to tighten oversight of third-parties, Banco Espírito Santo’s former chief executive faces money laundering charges in Portugal, and more, in the midweek roundup.
US seeks fine against Halkbank, UBS anticipates $2.5 billion in compliance-related fines, and more, in the midweek roundup.
The Bermuda Monetary Authority issued civil penalties totaling $500,000 against the Hamilton, Bermuda-based company for its failure to adequately comply with anti-money laundering and counterterrorist financing requirements.
| Technical | Effectiveness |
|---|---|
| Compliant : 28 | High : 1 |
| Largely Compliant : 11 | Substantial : 6 |
| Partially Compliant : 1 | Moderate : 3 |
| Non-Compliant : 0 | Low : 1 |
| Rank : 83/141 |
| Score : 4.91/10 |
| Rank : N/A |
| Score : N/A |
| Rank : 40/133 |
| Score : 73/100 |