Bermuda's "significant work" to update its anti-money laundering and anti-terrorist finance regime has been recognised by the US State Department.

Announcing the news on Monday, Attorney General Kim Wilson said Bermuda was placed in the lowest risk category in the department's 2010 report on those topics.

"This is a strong endorsement that Bermuda is addressing the challenges of combating money laundering and terrorist financing in a positive and effective way," she said.

The report assesses the regimes in around 200 countries. Bermuda was placed in the same lowest-risk category in 2008 and 2009 too.

Sen. Wilson said: "As part of the assessment for this year's report, Bermuda was required to provide the US authorities with detailed responses to a significant number of very probing questions that related to all aspects of our anti-money laundering and anti-terrorist financing regime. Some of the key issues that were addressed related directly to enhancements that have been made to our regime in the last three years."

The full report can be read at www.state.gov/p/inl/rls/nrcrpt.