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 laundering presents many dangers, especially to Bermuda, an island centre that derives so many benefits from the international financial markets, insurance & reinsurance.

“Money laundering increases the threat of monetary instability, due to the misallocation of resources; undermines financial markets; it creates economic distortion and instability, and ultimately results in loss of revenue.

“As the primary law enforcement agency in Bermuda, we remain 100% committed to a robust anti-money laundering & terrorist financing regime, and supporting all our partners in this effort.”

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