Financial Action Task Force High Risk and Other Monitored Jurisdictions

Public Statements - June 2023 , Issued: 6th July, 2023 - No. 01 of 2023

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The Financial Action Task Force “FATF” issued updates in June 2023 to its public statements concerning “FATF” identified jurisdictions under increased monitoring and high risk jurisdictions namely the Democratic People’s Republic of Korea, Iran and Myanmar.

 

In light of the “FATF’s” public statements, Casinos & Gaming House Operators should remain cognizant of the money laundering and terrorist financing risk when maintaining business relationships or conducting transactions with jurisdictions which the “FATF” has listed in their updates as being currently under increased monitoring.

 

Additionally, pursuant to Section 6(3)(d) of the Proceeds of Crime Act, 2018; Casinos & Gaming House Operators are hereby notified of the requirement to apply enhanced due diligence measures to business relationship and transactions conducted with the Democratic People’s Republic of Korea, Iran and Myanmar, including individuals, companies, financial institutions, and those acting on the relevant high risk jurisdiction’s behalf.

Casinos and Gaming House Operators are hereby advised to be guided accordingly. Questions concerning this notice may be directed to the Board at:

Gaming Board for the Bahamas
Centreville House
2nd Terrace West Centreville & Collins Avenue
P. O. Box N-4565
Nassau Bahamas

 

Email: info@bahamasgamingboard.com
Tel: 1-242-397-9200

Issued: 6th July, 2023

 

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