Hashtag: #MoneyLaundering
Three Arrested, Warrants Executed, Cash Seized
A 58-year-old Mexican national was arrested at the airport “after he was found in possession of a large quantity of cash” and the police also executed search warrants at residences in Devonshire and Paget and “more than $17,000 in cash was seized and two persons arrested.” A police spokesperson said, “On Saturday, July... Read more of this article
BPS On Investigations Into Money Laundering
“Between 2021 and the present, five people have been convicted and monies seized following investigations into suspected money laundering offences,” the police said. A police spokesperson said, “Investigations by the Bermuda Police Service [BPS] Financial Crime Unit into acts of money laundering have led to a number of convictions and resulted... Read more of this article
BPS Continues Work To Tackle Financial Crime
The police noted the recently released “Bermuda 2020 Report on Money Laundering and Terrorist Financing Risk Assessments” and said the ”BPS works with partner agencies within the National Anti-Money Laundering Committee to both combat and deter criminal use of our financial systems, and our collective input into this report helps inform... Read more of this article
‘Territories Committed To Meeting Standards’
“All Overseas Territories with financial centres are committed to global tax transparency standards,” Lord Ahmad of Wimbledon said. During the British Parliament’s session on June 10th, Liberal Democrat Lord Jones of Cheltenham asked “what progress they have made on reforming procedures in the UK’s Overseas Territories to eliminate [1]... Read more of this article
BPS: Day For Prevention Of Money Laundering
The Bermuda Police Service said they stand with other jurisdictions around the world in supporting Anti-Money Laundering Day on 29th October. Acting Assistant Commissioner [Crime] Nicholas Pedro said, “The Bermuda Police Service stands with other jurisdictions around the world in supporting and celebrating Anti-Money Laundering Day on 29th October. “Money... Read more of this article
BPS: Received Payment On Confiscation Order
[Updated - Officials now say it was part payment] The Bermuda Government received payment on the confiscation order made by the UK courts, the police said today in relation to the theft case which Jeffrey Bevan was convicted for his role in. A police spokesperson said, “In January 2011, Mr. Jeffrey Bevan, [a UK national], commenced temporary employment... Read more of this article
Minister: ‘Excellent Outcome For Jurisdiction’
For Bermuda to have achieved such strong rankings in the Mutual Evaluation Report is an “excellent outcome for this jurisdiction,” Minister of Finance Curtis Dickinson said. Speaking in the House of Assembly today [Jan 31], the Minister said, “I am extremely pleased to rise today to advise Honourable Members of the outstanding findings... Read more of this article
Minister: ‘Major Accomplishment For Bermuda’
Calling it an “excellent result and a major accomplishment for Bermuda,” Minister of Finance Curtis Dickinson announced that an international standards setting body “confirmed that Bermuda is one of the global leaders in the fight against money laundering, the financing of terrorism and proliferation.” Minister Dickinson said,... Read more of this article
Jeffrey Bevan Has Paid Back $394,307 So Far
Authorities in the UK have indicated that Jeffrey Bevan — who was convicted for his role in swindling over $1.5 million from the Bermuda Government — has paid just under £300,000 [$394,307] to date, a “sum which is able to be returned to Bermuda asap.” Bevan — who is serving time in prison in Wales – was previously... Read more of this article
BPS: Shopper Scam & Money Laundering
The police are advising people who participate in the so called “Mystery Shopper Scam” that they may be engaging in money laundering activity, which is “illegal and could result in jail time and or hefty fines.” A police spokesperson said, “The Bermuda Police Service wishes to advise that members of the public who participate... Read more of this article
EY Staff Gain Anti-Money Laundering Certification
Recently, over 30 EY professionals from the EY Region of the Bahamas, Bermuda, British Virgin Islands and Cayman Islands received the prestigious Certified Anti-Money Laundering Specialist [CAMS®] credential from the Association of Certified Anti-Money Laundering Specialists® [ACAMS®]. A spokesperson said, “Recipients included Partners, Principals,... Read more of this article
ICA To Host Money Laundering Talk On March 6
The International Compliance Association [ICA] Bermuda Branch is getting set to present a talk on ‘Money Laundering from a Bermuda Perspective’ on Wednesday [March 6] at 6.00pm at the Royal Bermuda Yacht Club. A spokesperson said, “ICA Bermuda Branch presents a talk on ‘Money Laundering from a Bermuda Perspective’ presented by Chief... Read more of this article
