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Bill Giving Retroactive Authority to Barbados AML Agency Raises Enforcement Questions

By Brian Monroe

A Barbadian Parliamentary bill that would retroactively legitimize actions by the country's financial intelligence unit is raising questions about the jurisdiction's anti-money laundering regime, say consultants. The measure, called the Money Laundering and Financing of Terrorism (Prevention and Control) (Validation of Functions) Act 2009, would make "all matters purported" to be done by the country's Anti-Money Laundering Authority (AMLA) between August 1, 2006 and September 14, 2008 "lawfully and validly performed" as if the AMLA had been "appointed." The bill was crafted to reauthorize authority for AMLA members that had lapsed under the Money Laundering (Prevention and Control) Act 1998,...

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