Today the Cabinet Office released the attached document which lays out Bermuda’s “Action Plan” as a follow-up to the G8 Summit held in June 2013.
The document, offers a comprehensive background about Bermuda and emphasizes the Island’s well respected status as an international business destination. It also offers a solid proposal on the way forward in managing Bermuda’s reputation against the exposure to the negative effects of such things as money laundering and terrorist financing, to name a few.
Regarding the “Action Plan” Premier, the Hon. L. Craig Cannonier, JP, MP, said today, “Government’s G8 action plan builds upon the strength and robustness of Bermuda’s legal and prudential regime that provides the platform for the provision of financial services to the global economy with a particular focus on insurance and reinsurance.
“The measures outlined in our plan will ensure that Bermuda maintains a leading role in the global fight to combat money laundering and terrorist financing and that there are safeguards in place to prevent the misuse of companies and legal arrangements for illicit business transactions.”