Bahamas Avoids EU Blacklist

Bahamas Avoids EU Blacklist

Despite doing little for Bahamians affected by Hurricane Irma, the Bahamas government was able to use that storm as an excuse to convince the EU into not blacklisting the island nation as a tax haven.

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Report: Juarez Cartel Used Shell Companies to Finance Mexican President’s Election

March 19, 2016

Mexican President Enrique Pena Nieto, pictured November 18, 2015, said he would seek a

An in-depth investigation has revealed that through the use of shell companies, members of the Juarez Cartel financed the political campaign of Mexican President Enrique Pena Nieto. The cartel members appear to have also used government programs to launder money and profit form their networks of contacts. […

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Flowers: International opinions on local gaming sector ‘ill-informed’

October 28, 2017

Flowers: International opinions on local gaming sector ‘ill-informed’

CEO of FML Group of Companies Craig Flowers said comments from international institutions about The Bahamas’ gaming industry are “certainly not factual”, adding that they are “ill-informed”. A recently released International Monetary Fund (IMF) working paper that included a case study on The Bahamas stated: “Anecdotal evidence suggests that international correspondent banks are uncomfortable providing services to domestic banks that do business with either money transmission businesses (MTBs) or online gaming operators (so called web shops), which are perceived as a higher anti-money laundering/counter terror financing risk.

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