Public officers underwent training in preparation for the next Financial Action Task Force Mutual Evaluation, which begins in April.

The FATF mutual evaluations are in-depth country reports analysing the implementation and effectiveness of measures to combat money laundering, terrorist and proliferation financing.

The reports are peer reviews, where members from different countries assess another country’s readiness. Bermuda’s FATF association is with the Caribbean FATF.

Mutual evaluations provide an in-depth description and analysis of a country’s anti-money laundering and counter-terrorist financing system, as well as focused recommendations to further strengthen its system.

During a mutual evaluation, the assessed country must demonstrate that it has an effective framework to protect the financial system from abuse.

Bermuda, through its National Anti-Money Laundering Committee, in partnership with the Ministry of Finance, Ministry of Justice and Ministry of National Security, successfully hosted a three‑day training programme on the revised FATF Standards and Methodology from February 23 to 25 at the Royal Bermuda Regiment Warwick Camp.

The training brought together over 100 participants per day from Bermuda’s competent and relevant authorities responsible for combating money laundering, terrorist financing and proliferation financing.

Attendees included representatives from regulatory bodies, law enforcement, policy agencies and other key stakeholders who play a critical role in safeguarding Bermuda’s financial system.

The sessions were led by expert advisers from the CFATF Secretariat: Keisha Fraser, financial adviser; Shivana Sharma, legal adviser; and, Jefferson Clarke, law enforcement adviser.

The training provided in‑depth insight into the recent updates to the FATF Standards and Methodology, which switch focus towards effectiveness rather than technical compliance.

The implications for Bermuda’s upcoming 5th Round Mutual Evaluation, which will formally begin with pre‑on-site visit training scheduled for April 20-22, were also outlined. Participants received practical guidance on meeting both technical and effectiveness requirements under the revised framework.

The knowledge gained will strengthen Bermuda’s national understanding, enhance institutional capacity and further support the island’s ongoing efforts to maintain a robust and compliant Anti-Money Laundering/ Anti-Terrorist Financing/ Counter Proliferation Financing regime.

Kim Wilkerson, the Attorney-General and Minister of Justice, attended sessions during the training programme.

Reflecting on the significance of the initiative, Minister Wilkerson stated: “This training is a direct reflection of the Government’s commitment to ensuring Bermuda has the capacity to combat money laundering, terrorist financing and proliferation financing ahead of our fifth-round Mutual Evaluation.”