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Bermuda Stock Exchange Backs AML/CTF Campaign

by Jason Gorringe, Lowtax.net, London
14 February, 2018

The Bermuda Stock Exchange has backed the territory Government's recently launched campaign to combat global financial crime.

The "Just Good Business" campaign was launched at the end of January and highlights efforts underway by the territory's Government, authorities, and Bermuda-based businesses to ensure Bermuda meets the highest anti-money laundering and countering the financing of terrorism (AML/CTF) standards.

Supporting the campaign, Exchange President and CEO Greg Wojciechowski said: "As the national stock exchange, we felt it important to lend our support to this local campaign aimed at combating financial crime. The Bermuda Stock Exchange prides itself on its international reputation as a well-regulated and transparent global markets exchange, and as a full member of the World Federation of Exchanges we see it as our responsibility to support such initiatives."

The campaign is a collaboration between government and private sector bodies, including the Bermuda Business Development Agency, Bermuda Monetary Authority, the National Anti-Money Laundering Committee, the Financial Intelligence Agency, the Association of Bermuda International Companies, the Association of Bermuda Insurers and Reinsurers, the Bermuda Bankers Association, the Bermuda International Long-Term Insurers and Reinsurers, the Bermuda Insurance Management Association, and the Bermuda Chamber of Commerce.

As well as educating the general public on the importance of AML/CTF measures, the campaign asks businesses and individuals to fulfill their legal obligation to complete and submit documentation required by financial entities to satisfy international standards, and to report any suspicious financial activity to the Financial Intelligence Agency, the territory's independent agency authorized to receive, gather, store, analyze, and disseminate information relating to suspected proceeds of crime and potential financing of terrorism.

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