A hint that Bermuda's financial institutions and private sector are not doing enough to combat money laundering and terrorism financing, causing concern to the International Monetary Fund, has been made by Finance Minister Paula Cox.

An IMF review of the Island's regulations in those areas has resulted in a still-classified draft report thought to be troubling for the Island.

Late yesterday Ms Cox said Bermuda was not "a jurisdiction at risk" but added: "Clearly there is going to be a requirement, separate and apart from the legislative framework that is already in place, for the regulated institutions and others to demonstrate they have adequate controls and safeguards in place and working effectively."

• See business page 30 for full report.