A message from the Barristers & Accountants AML/ATF Board Supervisor regarding the recent Mutual Evaluation:
The Assessors have now held their closing meeting with representatives from the Government , NAMLC and the Board . As with the interviews themselves, the tone was open and professional. The Private Sector involvement was called out as being “forthcoming, friendly and providing all the information that was requested. The interviews were positive, and a constructive dialogue”.
We now move into the next phase of the assessment methodology, which is the report drafting, review and finalization phase. We expect the first draft of our report on 16th November, with our response due back by 17th December. The assessors will then create their second draft, which will be provided both to Bermuda and to a team of reviewers under the wider FATF umbrella, as part of FATF's process to ensure quality and consistency in these reviews. A third draft is then produced and reviewed, which, based on current timelines for this process, would allow for the report to be presented to the CFATF Plenary next May. Per the current schedule, Bermuda’s report could then be presented to the full FATF Plenary in October next year for subsequent finalization and publication.
It is possible that in this review process we may need to reach out to some of you to assist with our comments and feedback. Thank you in advance for your assistance to ensure Bermuda continues to fully engage in this assessment process.
Please pass this message on to the other members of your respective teams who may not be copied on this email correspondence.
Thank you all once again.
Kim N. Wilson