FIND MORE >  
Advisories  
AML/ATF Ministerial Advisory 3/2014
AML/ATF Ministerial Advisory 2/2014
AML/ATF Ministerial Advisory 1/2014
AML/ATF Ministerial Advisory 3/2013
AML/ATF Ministerial Advisory 2/2013
AML/ATF Ministerial Advisory 1/2013
AML/ATF Ministerial Advisory 3/2012
AML/ATF Ministerial Advisory 2/2012
AML/ATF Ministerial Advisory 1/2012
AML/ATF Ministerial Advisory 3/2011
View Archives...
NAMLC Updates  
NAMLC Quarterly – 1st Quarter
March 2013
NAMLC Quarterly – 4th Quarter
December 2012
NAMLC Quarterly – 3rd Quarter
September 2012
NAMLC Quarterly – 2nd Quarter
June 2012
NAMLC Quarterly – 1st Quarter
March 2012
NAMLC Quarterly - 4th Quarter
December 2011
NAMLC Quarterly – 3rd Quarter 2011
September 2011
NAMLC Quarterly – 2nd Quarter
June 2011
NAMLC Quarterly – 1st Quarter 2011
March 2011
NAMLC Quarterly Update - 4th Quarter
December 2010
View All...
National Agencies  

An effective national Anti-money laundering/Countering Terrorist Financing regime is largely dependent on a synchronized multi-agency approach. NAMLC’s role is therefore to help provide a co-ordinated inter-agency mechanism to combat these crimes. The agencies involved in NAMLC are:

 

 

Bermuda Monetary Authority

The Bermuda Monetary Authority (BMA) is Bermuda’s financial regulator established under section 2 of the Bermuda Monetary Authority Act 1969. The BMA’s principal objects are enshrined in section 3 of that Act and its objectives and responsibilities include:

 

  • to supervise, regulate and inspect any financial institution which operates in or from within Bermuda
  • Assisting with the detection and prevention of financial crime;
  • Monitoring AML/ATF regulated financial institutions to ensure full compliance with Bermuda’s AML/ATF framework as required by section 5 of the Proceeds of Crime Regulations (Supervisions and Enforcement) Act 2008; and
  • Issuing Guidance to AML/ATF regulated financial institutions supervised for compliance with the AML/ATF regulations as required by section 5 of the Proceeds of Crime Regulations (Supervisions and Enforcement) Act 2008.

 

Bermuda Police Service

The Bermuda Police Service is the law enforcement and investigative body charged with the responsibility for preserving the public peace, protecting life and property and preventing and detecting crimes. The Financial Crimes Unit in particular is responsible for investigating serious financial crimes in Bermuda, which include money laundering and terrorist financing. This Unit is also responsible for conducting the enquiries to facilitate the commencement of proceedings for the restraint and confiscation of the proceeds of all types of relevant criminal conduct.

 

 

Department of Public Prosecutions

The Department of Public Prosecutions is headed by the Director of Public Prosecutions which is the office created and empowered under section 71A of Bermuda’s Constitution. The Department is therefore responsible for instituting and undertaking criminal proceedings in respect of all types of criminal offences, including money laundering and terrorist financing in Bermuda. Counsel within the Department also provide legal advice to the Police in relation to criminal investigations and the approval of criminal charges.

 

The Department is also responsible for initiating and conducting civil proceedings for the restraint, forfeiture and confiscation of the proceeds of criminal conduct.

 

 

Financial Intelligence Agency

The Financial Intelligence Agency is the newly created statutory body which in Bermuda is responsible for receiving reports from financial institutions, other businesses and individuals concerning suspected proceeds of crime and potential terrorist financing. From the receipt of such reports the Financial Intelligence Agency is obliged to collate, analyse and, where appropriate, disseminate information to the Bermuda Police Service and or a foreign intelligence authority for investigation.

 

 

HM Customs

HM Customs is a department of Government responsible for:

 

  • Enforcing compliance with Bermuda’s customs laws and regulations;
  • Interdicting illicit drugs and contraband;
  • Monitoring the movement of passengers and cargo;
  • Monitoring cash declarations on export or import; and
  • Monitoring the cross border movements of currency and bearer negotiable instruments.

HM Customs derives most of its responsibilities and powers from the Revenue Act 1898.

 

 

 
Contact Info  

Office of the National Anti-Money Laundering Committee
Ministry of Legal Affairs 
4th Floor
Global House
43 Church Street
Hamilton, HM12
Bermuda

Chairman: Mrs. Cheryl-Ann Lister
Tel: 441 294-9797
E-mail: info-namlc@gov.bm

If you would like to receive email notification of NAMLC related matters, including in relation to international sanctions, please send an email to info-namlc@gov.bm

Reporting Suspicious Transactions  

Reporting Suspicious Transactions
Persons having any reason to suspect the commission of an offence under sections 43 to 45 of the Proceeds of Crime Act 1997 or under sections 5 to 8 of the Anti-Terrorism (Financial and other Measures) Act 2004, should report their suspicions to the Financial Intelligence Agency (FIA).  The FIA only accepts suspicious activity reports (SARs) submitted electronically via goAML (using the online submission form or XML transmission).

Training
The FIA is committed to provide one-on-one training to the various Reporting Entities in Bermuda in respect to the identification of suspicious activity and the filing of SARs. Please contact the FIA at:
analyst@fia.bm to schedule training.

General contact details for the FIA:

The Director of the FIA
Strata 'G' Building
30A Church Street
6th Floor
Hamilton HM11
Bermuda

Telephone: 441-292-3422
Fax: 441-296-3422
Email:
info@fia.bm
Website:
www.fia.bm