Financial Intelligence Unit of the Bahamas
The Bahamas' financial intelligence unit. It receives, analyses, and disseminates suspicious transaction reports to law enforcement and competent authorities.
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AML/CTF Compliance in the Bahamas
The Bahamas regulates AML/CTF through its Financial Intelligence Unit under the Proceeds of Crime Act. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for the Bahamas
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUFinancial Intelligence Unit of the Bahamas (FIU)
FATF statusCFATF member
Primary legislationProceeds of Crime Act, 2018; Financial Transactions Reporting Act, 2018
Overview
AML/CTF compliance in the Bahamas.
The Bahamas regulates money laundering and terrorist financing through the Proceeds of Crime Act and the Financial Transactions Reporting Act, supported by its Financial Intelligence Unit, which receives and analyses suspicious transaction reports.
Regulated entities must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the FIU, alongside rules from sectoral supervisors such as the Central Bank of the Bahamas. Supervisors expect a designated compliance officer, sound internal controls, and staff training.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Proceeds of Crime Act and Financial Transactions Reporting Act
These 2018 statutes form the core of the Bahamian AML framework, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions.
Sectoral supervision
The Central Bank of the Bahamas and the Securities Commission apply AML rules to banks, trust companies, and securities firms alongside the FIU's oversight.
CFATF membership
The Bahamas is a member of the Caribbean Financial Action Task Force, a FATF-style regional body, and aligns its regime with the FATF 40 Recommendations through that membership.
Obligations
What regulated businesses must do.
- Apply customer due diligence and identity verification
- Identify beneficial owners of corporate customers
- Report suspicious transactions to the FIU
- Conduct ongoing monitoring of customer relationships
- Maintain internal controls and a compliance officer
- Maintain records and provide staff training
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in the Bahamas?
The Financial Intelligence Unit of the Bahamas receives and analyses suspicious transaction reports, alongside sectoral supervisors such as the Central Bank of the Bahamas and the Securities Commission.
What is the main AML law in the Bahamas?
The Proceeds of Crime Act and the Financial Transactions Reporting Act, both from 2018, set the customer due diligence, recordkeeping, and reporting obligations for regulated entities.
Is the Bahamas a member of FATF?
The Bahamas is a member of CFATF, the FATF-style regional body for the Caribbean, and aligns its AML/CTF regime with the FATF 40 Recommendations through that membership.
How does MemberCheck support AML compliance in the Bahamas?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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