Anti-Money Laundering & Compliance

GENESIS OPERATES IN a jurisdiction that understands that money laundering is a threat to the integrity of the international financial services industry, and to the economic, political and democratic foundations of the developed world.

As a result, we continue to strengthen our internal policies and procedures to prevent and detect, potential fraud, money launderers and terrorist financing. This is in lock step with the country’s anti-terrorism and counter-money laundering legislation which is continually advanced to meet global best practices and standards. Existing Bahamian laws on the prevention of money laundering, and KYC requirements for financial institutions are found in the Proceeds of Crime Act, 2000 (Act No. 44 of 2000), the Financial Transactions Reporting Act, 2000 (Act No. 40 of 2000), and the Financial Transactions Reporting Regulations, 2000 (Statutory Instrument No. 111 of 2000).

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