Practice Areas

The Money Laundering and Financing of Terrorism (Prevention and Control) Act, 2011-23 (MLFTA) of the Laws of Barbados (hereinafter referred to as “the Act”) seeks to combat money-laundering and the financing of terrorist activities through professionals such as legal practitioners. The Act stipulates in section 4 that it applies to the designated non-financial businesses and professions (DNFBPs) set out in the Second Schedule. More specifically, Schedule 2 para 3 of the Act applies to:

An independent attorney-at-law engaged in any of the following:
(a) the purchase, sale or other disposal of real property;
(b) the management of the money, securities or other assets of a customer;
(c) the management of bank savings or securities accounts;
(d) the organisation of contributions for the creation, operation or management of bodies corporate;
(e) the creation, operation or management of legal persons or arrangements; or
(f) the purchase or sale of business entities.

Attorneys-at-Law whether in practice as sole practitioners or law firms are required to implement AML procedures to prevent criminals from being able to use their services to launder money or to finance terrorism.

As part of our AML Procedures, we collect certain information when onboarding new clients for these matters. To help up comply with our regulatory obligations, kindly complete our KYC Form.