Courts to expedite money laundering, terrorist financing
The island’s continuing commitment to the inter-governmental Financial Action Task Force has been affirmed by the Bermuda judiciary.
A practice direction issued by Larry Mussenden, the Chief Justice, effective today, instructed all of the island’s courts to “give priority to the listing, case management and determination of all matters involving money laundering, terrorist financing and related proceeds of crime applications”.
Mr Mussenden wrote that the direction was issued “to demonstrate the judiciary’s commitment to the Financial Action Task Force standards”.
The Parisian-based group was created in 1989, initially to combat money laundering.
In the wake of the September 11, 2001 terrorist attacks, its mandate was broadened to target terrorist financing.
Bermuda adopted the revised FATF recommendations and has regularly updated its legislation since.
The order from the Chief Justice supports the work of the National Anti-Money Laundering Committee, the Financial Intelligence Agency, the Bermuda Police Service, the Director of Public Prosecutions and “other competent authorities”.
Applications under the relevant legislation range from search warrants to confiscation orders and civil recovery of the proceeds of crime. It also covers international requests for co-operation.
Mr Mussenden wrote that the direction was made after consultation with the President of the Court of Appeal along with the senior magistrate. It covers Magistrates’ Court, the Supreme Court and the Court of Appeal.
• To read the direction in full, see Related Media
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