Wednesday, January 20, 2021

U.S. Report Names Bahamas As Money Laundering Jurisdiction


The Bahamas was listed among major international money laundering jurisdictions in 2018, a newly released United States Department of State report said, highlighting sources of laundered proceeds included firearms trafficking, human smuggling and tax fraud.

At the time the report was compiled, the US noted the country did not maintain official records of company beneficial ownership or require resident paying agents to tell domestic tax authorities about payments to non-residents.


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