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BAHAMAS: FTRA to meet country’s deficiencies regarding FATF recommendations

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#Bahamas, May 17, 2018 – Nassau – The Bahamas’ Financial Transactions Reporting Act, 2018 (FTRA), will meet all of the deficiencies that were identified in respect to the country’s compliance with the recommendations of the Financial Action Task Force (FATF), Attorney-General and Minister of Legal Affairs, Senator the Hon. Carl W. Bethel, QC, said Wednesday.

Addressing a stakeholder meeting with industry regulators and members of the Bahamas Bar Association, Attorney-General Bethel said the Act will, in a broad sense, be the “heart of the system of compliance and due diligence that will henceforth be the standard of conduct to be expected of all participants in financial services.”

The stakeholder meeting was hosted by the Office of the Attorney-General, in conjunction with the Bahamas Bar Association, as part of the 2018 Legislative Series. Attorney-General Bethel provided an overview of the FTRA during Session I.

The Bahamas was found to be deficient in 22 of the 40 recommendations included in the FATF’s Mutual Evaluation for late 2015. Attorney-General Bethel said the present Administration received notice in late May, beginning of June, 2017, and has been working assiduously to correct the situation ever since.

“You only need to be deficient in 21 of them to be where we are today,” Attorney-General Bethel said. “One of the things that was required was to bring into effect an updated Financial Transaction Reporting Act. Drafts were found in the Ministry’s files, but had not been progressed. They weren’t aligned with the FATF’s recommendations.”

Attorney-General Bethel said the FATF “break their recommendations down” into almost microscopic suggestions that are called methodologies.

“And so you have the recommendation. To comply with the recommendation, you have to show that you have the methodology in place and are implementing it. How do you get the methodology in place? You have to craft laws almost with microscopic attention to these methodologies. That is the process we have been at and so today we now have an FTRA. We will have a fully compliant and acceptable FTRA that will meet all of the deficiencies,” Attorney-General Bethel added.

The Financial Transaction Reporting Act was one of several areas covered by Attorney-General Bethel during Wednesday’s session. The Attorney-General also addressed matters ranging from compliance to lawyer/client privilege.

Attorney-General Bethel said the session with the stakeholder group, was a necessary part of the stakeholder consultative process on the Financial Transaction Reporting Act, as lawyers/attorneys and accountants are now being looked upon as financial institutions globally. They were previously designated as Non-Financial Businesses and Professions (DNFBPs).

“Lawyers, accountants and certain other professionals, were never treated as financial institutions before, they merely had duties of customer due diligence, making Suspicious Transaction Reports (STRs) possibly, but they were never given the duties of being a financial institution. That has all changed. They are now in the category of financial institutions,” Attorney-General Bethel said.

“Now attorneys, apart from having the usual due diligence, they must verify it. That’s the kind of ‘enhanced’ due diligence that is now required because the standard now is obtaining and verifying. The second aspect of that is of course, that as financial institutions, you are now expected to comply and to be regulated.”

The Attorney-General also addressed the matter of lawyer/client privilege.

“We all know that privilege does not extend to the issue of, or in any way facilitate, the commission of a crime by a client. So there are limits to privilege. It was suggested to myself and my staff in a meeting with the Bar Council by some persons, that we look at the situation in Canada whereas it is well known that the Supreme Court ruled that lawyer/client privilege was akin to an absolute right and that any intromission into this sacred territory violated certain articles of the Canadian Charter of Rights and Freedoms.

“And so Canada is habitually, in their mutual evaluations, given negative ratings on this whole issue of the legal profession and privilege because it is inescapable that they are unable to comply with the recommendations that they, as a member of the FATF, are party to imposing on the rest of the world.

“But the reality is that Canada is a country with enormous natural resources, 40-50 million people, and a standing army, navy and air force. They do not need the world as much as we do. We have an entirely open economy. We are an integrated part of the world, and we are very small. We do not have the luxury that a Canada can enjoy.”

Attorney-General Bethel said it is expected that lawyer/client privilege will be kept within due bounds.

“Any time counsel is aware of anything untoward, it is mandated by law that STRs be generated.”

The Attorney-General expressed his “full confidence in this august and learned legal profession” of The Bahamas.

“You have helped to pilot this Ship of State through many such storms. This is only the latest. This is The Bahamas. We know how to pilot the ship. Let us remember that it is not survival of the fittest, it is survival of the smartest and I always say about this Blessed country, that we may not have natural resources – iron or steel, etcetera; we may not have rare earth minerals, we may not have large quantities of agricultural lands to speak of (and) so we have had to learn, and we have learned over this past four hundred-odd years, to not only survive, but to succeed because we use what God gave us between our ears – our brains. We have what it takes not only to survive, but to succeed.

“My colleagues of the Bar, I have every confidence that you will continue in that noble tradition of not just surviving, but succeeding,” Attorney-General Bethel added.

 

Photo Captions:

Header: Attorney-General and Minister of Legal Affairs, Senator the Hon. Carl W. Bethel, QC, chatting with officials from the Office of the Attorney-General and Ministry of Legal Affairs during a break in Wednesday’s Session. Attorney-General Bethel was accompanied by (first right) Mr. Marco Rolle, Permanent Secretary, Office of the Attorney-General and Ministry of Legal Affairs.

Insert: Attorney-General and Minister of Legal Affairs, Senator the Hon. Carl W. Bethel, QC, provided regulators and members of The Bahamas Bar Association with an overview of the Financial Transactions Reporting Act, 2018 (FTRA) Wednesday, May 16 as part of the Office of the Attorney-General/Bahamas Bar Association’s 2018 Legislative Series held at the British Colonial Hilton. Also pictured (from left) are: Khrystle Rutherford- Ferguson, Treasurer, Bahamas Bar Association; Kahlil Parker, President, Bahamas Bar Association; Attorney-General Bethel; Juanita Lewis-Johnson, Vice-President, Bahamas Bar Association and Marco Rolle, Permanent Secretary, Office of the Attorney-General and Ministry of Legal Affairs.

(BIS Photo/Patrick Hanna)

 

 

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Where to Draw the Line? TCI and Bahamas Advance Maritime Boundary Talks

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June 16, 2026 – Thirty-four years after formal negotiations began, Turks and Caicos Islands and The Bahamas are still working to define an agreed maritime boundary between the neighbouring archipelagos, a revelation emerging from a recent Turks and Caicos Cabinet summary which has brought renewed attention to a largely overlooked diplomatic and security issue.

A May 2026 Turks and Caicos Cabinet update suggests the long-running negotiations are continuing to advance.  In August 2023, Bahamas Foreign Affairs Minister Fred Mitchell said efforts to draw an exact maritime boundary had been slowed by the challenge of gathering the mapping and locational data required for the exercise.  The United Kingdom, which represents Turks and Caicos in the negotiations, has offered few details beyond confirming that both sides remain committed to maritime boundary delimitation talks.

The negotiations are not centred on a territorial dispute but rather on establishing a legally recognized maritime boundary under international law.  Such agreements help determine jurisdiction over fisheries, maritime resources, law enforcement activities, environmental protection and migration control in the waters between neighbouring countries.

While the discussions focus on the boundary between The Bahamas and Turks and Caicos, the exercise is part of a wider maritime delimitation effort — the process of formally marking and agreeing upon where one country’s waters end and another’s begin.  In comments to The Tribune in August 2023, Mitchell referenced similar boundary considerations involving the United States and Haiti, underscoring the broader regional importance of defining maritime jurisdictions in accordance with international law.

According to public statements from The Bahamas, formal negotiations between the two sides began in 1992 and were followed by technical discussions in 1996.  After years of little public activity, talks resumed in 2023 and have continued through a series of engagements involving legal, maritime, security and geographic information specialists.

The importance of maritime boundaries was underscored by former Bahamas Foreign Affairs Minister Brent Symonette during maritime boundary discussions between The Bahamas and the United States in 2009.  At the time, Symonette described clearly defined maritime borders as essential to national sovereignty, law enforcement, fisheries management, environmental protection and efforts to combat illegal migration.  He also argued that agreed boundaries provide legal certainty and strengthen cooperation between neighbouring countries.

The United Kingdom, which represents Turks and Caicos in the negotiations, has offered few public details beyond confirming its commitment to the process.  However, officials from the Foreign, Commonwealth and Development Office participated alongside TCI representatives during talks held in Nassau in August 2023.  The Turks and Caicos delegation included then Permanent Secretary Wesley Clerveaux, whose responsibilities included Marine Affairs.

At this stage, the TCI Cabinet has only publicly identified the area under discussion as being south of “Point 1.”  Information released by The Bahamas following a 2023 meeting indicates the negotiations concern waters between the southeastern Bahamas and the Turks and Caicos Islands.  While no map has been made public, the available information places the discussions south of Bahamian islands including Mayaguana and Great Inagua.  Exactly where the proposed boundary would meet the Turks and Caicos archipelago remains unclear from public records.

The latest Cabinet update offers no indication of when the negotiations may conclude.  However, after more than three decades of intermittent discussions, recent references by both governments suggest efforts to finally draw the line between the two jurisdictions are continuing.

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CDB Leadership Passes to Belize as Region Eyes New Financing Partnerships  

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By Deandrea Hamilton

 

The Bahamas, June 9, 2026 – The Caribbean Development Bank’s annual gathering may have concluded in The Bahamas, but attention is already turning to Belize as leadership of the institution’s Board of Governors officially changed hands.

At the close of the 56th Annual Meeting in Nassau, outgoing Chairman and CDB Governor for The Bahamas, Michael Halkitis, formally transferred the chairmanship to Belize’s Dr. Hon. Osmond Martinez, continuing the Bank’s tradition of rotating leadership among its regional shareholders.

The handover capped a week of discussions focused on financing development in an increasingly uncertain global environment and strengthening the Caribbean’s ability to withstand economic and climate-related shocks.

One of the meeting’s most closely watched conversations centered on how multilateral development banks can better support vulnerable Small Island Developing States.

During the President’s Chat, titled Financing the Future: MDB Strategies for Uncertain Times, CDB President Daniel Best joined leaders from the OPEC Fund, the Central American Bank for Economic Integration and the Fund for Responding to Loss and Damage to discuss expanding development finance and building resilience.

OPEC Fund President Dr. Abdulhamid Alkhalifa emphasized that development institutions must move beyond responding to crises and instead help countries prepare for them.

“The real test is whether we can help countries move from strategy to implementation, and from implementation to results,” Alkhalifa said.

The discussions reflected a growing regional push for innovative financing solutions as Caribbean nations continue to confront climate vulnerability, infrastructure demands and economic uncertainty.

Beyond discussions on financing and resilience, the Annual Meeting also featured youth engagement activities, including the Youth FIRE Forum, where young Caribbean leaders participated in conversations about innovation, entrepreneurship, leadership and the future of regional development. Senior government officials, development professionals and youth delegates exchanged ideas on the challenges and opportunities facing the next generation, reinforcing a recurring message throughout the conference: that investments made today must ultimately improve opportunities for Caribbean youth tomorrow.

That theme was echoed by Bahamas Prime Minister Philip Davis, who used the opening ceremony to challenge regional leaders to invest in future generations.

“We must invest in the one asset that no agency can ever downgrade, and that no storm can ever wash away: the mind of a Caribbean child,” Davis told delegates.

With Belize now assuming the chairmanship, regional leaders say the focus remains on transforming ideas discussed in Nassau into tangible results for Caribbean people.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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New GPS Evidence Prompts Fresh Search for Missing American Woman in Abaco

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ABACO, BAHAMAS — Nearly two months after American sailor Lynette Hooker vanished in waters off Abaco, investigators are preparing to conduct a new search based on GPS and navigation data that reportedly challenges the account originally provided by her husband.

The case, which first drew international attention in early April, began when Brian Hooker told authorities that his wife was swept away after falling from an inflatable dinghy during rough conditions in waters near Elbow Cay.

Initial search efforts involving Bahamian and U.S. authorities covered extensive areas of the Sea of Abaco but failed to locate the missing Michigan woman.

Now, according to multiple U.S. media reports, investigators have obtained electronic navigation and GPS data that appears to place the couple’s dinghy in a different location from where searchers initially concentrated their efforts.

The new information has prompted authorities to reopen search operations and seek permission for divers to examine a more targeted area of the Sea of Abaco.

Unlike the broad search that followed Hooker’s disappearance, the renewed effort is expected to focus on a relatively shallow section of water, reportedly about 25 feet deep. Investigators believe the location may offer a better opportunity to recover evidence and potentially answer lingering questions surrounding the disappearance.

The latest development marks a significant shift in the investigation.

What began as a maritime search-and-rescue operation has evolved into a complex multinational investigation involving Bahamian authorities, the United States Coast Guard and the Federal Bureau of Investigation.

Brian Hooker was detained and questioned by Bahamian authorities following his wife’s disappearance but was later released without charges. While investigators have never publicly accused him of a crime, reports indicate he remains a person of interest as authorities continue to examine the circumstances surrounding the case.

Hooker has repeatedly denied any wrongdoing and has maintained that his wife accidentally fell overboard.

The investigation has intensified in recent weeks. U.S. authorities have reportedly seized the couple’s sailboat, Soulmate, transporting the vessel to Florida for forensic examination. Investigators are said to be reviewing onboard electronics, digital records and other potential evidence as part of the ongoing inquiry.

The case has also attracted attention from Lynette Hooker’s family, who have continued to press for answers and support efforts to locate her.

The renewed search comes after Brian Hooker returned to the United States following the disappearance. Reports indicate he cited family reasons, including concerns about his mother’s health, for leaving The Bahamas.

For investigators, however, the focus now appears fixed on the newly identified search area and the electronic evidence that led them there.

Whether the latest operation produces answers remains to be seen. But nearly eight weeks after Lynette Hooker disappeared in the waters of Abaco, authorities believe new technology and new information may finally provide a clearer picture of what happened that night.

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