The Bermuda Monetary Authority has published an update on the National Anti-Money Laundering Committee’s consultation on proposed amendments to Bermuda’s Proceeds of Crime legislative framework, including the Proceeds of Crime Act, the Proceeds of Crime (AML/ATF Supervision & Enforcement) Act and the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations. Stakeholders are invited to provide written comments on the proposed changes by 8 September 2025. The consultation is positioned as part of Bermuda’s review of its AML/ATF legislation following revisions to Financial Action Task Force standards since Bermuda’s 2020 assessment, and ahead of the 5th Round Mutual Evaluation commencing in October 2026. A consultation paper issued on 10 July 2025 drew broad industry support and requests to review detailed provisions, prompting the release of a consultation bill for further review.
Bermuda Monetary Authority publishes NAMLC consultation bill on amendments to Bermuda proceeds of crime AML and ATF laws
The Bermuda Monetary Authority updated on the National Anti-Money Laundering Committee’s consultation about amending Bermuda’s Proceeds of Crime framework. This aligns with Financial Action Task Force standards and precedes the 5th Round Mutual Evaluation in October 2026. A consultation paper issued in July 2025 received broad industry support, leading to a consultation bill for further review.