The Attorney-General has praised Bermuda for having a regulatory framework “that meets, and in many areas exceeds, international expectations”.

Kim Wilkerson, who is also the Minister of Justice, spoke out after attending a meeting of the Caribbean Financial Action Task Force in Trinidad last week.

The sessions brought together regional counterparts to advance co-operation in combating money laundering, terrorist financing and related financial crimes.

During the conference, the Bermuda delegation took part in technical discussions on mutual evaluation reports of Curaçao and Sint Maarten, sessions on regional trends and international co-operation review group meetings.

Delegates from 25 member states and observers such as the World Bank and the United Nations took part.

Ms Wilkerson said: “As the minister responsible under the Proceeds of Crime Act 1997 for Bermuda's anti-money-laundering and counter-terrorist financing regime, it is essential that I remain directly involved in regional dialogue on these matters.

"The discussions in Trinidad were both strategic and technical, and provided valuable direction for jurisdictions preparing for future evaluations."

Ms Wilkerson claimed that the Bermuda delegation’s participation reaffirmed the island's position as “a committed and engaged” jurisdiction in the global effort to uphold international financial standards.

She said: “Bermuda has built a regulatory framework that meets, and in many areas exceeds, international expectations.

"Nevertheless, as risks evolve, so must our policies. This forum allowed us to benchmark our work, assess upcoming reforms and learn from peer jurisdictions.

"Our participation is not symbolic. It is a deliberate and necessary part of how Bermuda maintains its credibility as a premier international financial centre.

“We must remain active in these discussions to protect our jurisdiction and ensure continued compliance at the highest levels."

A ministry spokesman added: “Bermuda continues to be recognised as a leader in this space.

“The 2019 mutual evaluation report ranked Bermuda sixth globally for overall effectiveness and confirmed complete or high levels of compliance across key areas including risk assessment, regulatory supervision and international co-operation.”