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On the 30th January 1998 the Proceeds of Crime (Money Laundering) Regulations 1998 came into effect and implemented an anti-money laundering framework for institutions such as banks, trust companies, insurance entities carrying out long-term insurance (not reinsurance), persons processing subscriptions or redemptions relating to collective investment schemes and trading members of the Bermuda Stock Exchange. Under the regulations these entities were defined as Regulated Institutions.

On the 1st January 2009, those Regulations were superseded by the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008. These Regulations impose a significantly detailed set of obligations on affected AML/ATF regulated financial institutions relating to customer due diligence, record keeping, systems and staff training. They also cover obligations in relation to internal reporting procedures, including the appointment of a reporting officer.

In order to assist AML/ATF regulated financial institutions to comply with the provisions of the Proceeds of Crime Act and Regulations the Bermuda Monetary Authority has issued General and Sector-specific AML/ATF  Guidance Notes with the approval of the Minister. In addition the Authority has published a Statement of Principles relating to how it will exercise of a number of the powers created by the Supervision Act.


  • AML-ATF Ministerial Advisory 2/2024. Money Laundering and Terrorist Financing - 8 July 2024
  • AML-ATF Ministerial Advisory 1 2024. Money Laundering and Terrorist Financing - 2 April 2024
  • AML-ATF Ministerial Advisory 3 2023. Money Laundering and Terrorist Financing. - 17 November 2023
  • AML-ATF Ministerial Advisory 2 2023. Money Laundering and Terrorist Financing. - 7 July 2023
  • General Guidance Notes for AML/ATF Regulated Entities (Revised) - 12 June 2023
  • AML-ATF Ministerial Advisory 1 2023. Money Laundering and Terrorist Financing. 24 April 2023. - 24 April 2023
  • Annex I - Sector Specific Guidance Notes for Trust Business - 14 February 2023
  • Annex VI - Sector-Specific Guidance Notes (SSGN) for Corporate Service Provider (CSP) Business - 14 February 2023
  • Annex VII - Sector-Specific Guidance Notes for Money Service Business - 14 February 2023
  • Annex III - Sector-Specific Guidance Notes for the Securities Sector - 14 February 2023
  • AML ATF Ministerial Advisory 2 2022 - 15 July 2022
  • AML ATF Ministerial Advisory 1 2022 - 13 April 2022
  • AML-ATF Advisory 3 2021 - 19 November 2021
  • Sanctions Guidance Note - 24 September 2021
  • AML-ATF Ministerial Advisory 2 2021 - 14 July 2021
  • AML/ ATF Ministerial Advisory 1/2021 - 25 March 2021
  • AML/ATF Ministerial Advisory 2 2020 - 21 November 2020
  • AML/ATF Ministerial Advisory 1 2020 - 12 May 2020
  • AML/ATF Ministerial Advisory 3 2019 - 19 December 2019
  • AML-ATF Ministerial Advisory 2/2019: Money Laundering and Terrorist Financing controls in higher risk jurisdictions - 19 August 2019
  • AML/ATF Ministerial Advisory 1 2019 - 22 February 2019
  • AML/AFT Ministerial Advisory 3 2018 - 26 November 2018
  • Annex VIII - Sector-Specific Guidance Notes for Digital Asset Business (DAB) - 20 September 2018
  • Guidance Note - Proceeds of Crime (AML-ATF Supervision and Enforcement) Act 2008 - 13 September 2018
  • Enforcement Guide - Statement of Principles and Guidance on the Exercise of Enforcement Powers - 10 September 2018
  • Annex II - Sector-Specific Guidance Notes for Long-Term Insurance Business - 2 November 2016
  • Statement of Principles - Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement - 1 October 2010
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