An strengthened framework to combat money-laundering has brought a sharp increase in prosecutions and seizures, according to Attorney General and Minister of Justice Michael Scott.Mr Scott told MPs in the House of Assembly that the work of the National Anti-Money Laundering Committee (NAMLC) had become especially important “during this time of escalated gang violence in Bermuda”.“The agencies and Government ministries who are part of NAMLC continue to play a vital role in working with regional and international partners to not only shape global anti-money laundering and anti-terrorist financing policies, but also to provide greater domestic and international cooperation,” Mr Scott said.“This has resulted in a substantial increase in prosecutions, convictions, seizures, confiscations and forfeitures in relation to money laundering activities.”In response to questions from The Royal Gazette, Mr Scott gave more details on what had been achieved.In 2007, an International Monetary Fund (IMF) team had assessed the Island's AML regime and had expressed concerns about the effectiveness of the legal framework as there had only been one prosecution for money laundering in the previous five years, Mr Scott said, and few investigations.Amendments to AML legislation were made in 2007 and 2008. In 2009 there was a money laundering prosecution under section 44 of the Proceeds of Crime Act (POCA) that resulted in a guilty verdict on all 11 counts, resulting from a three-year investigation involving several agencies.“During 2010, there were an additional three convictions for money laundering; one in the Magistrates' Court, and two in the Supreme Court,” Mr Scott said.“There were also a number of confiscation orders as well as forfeitures. Further, the Bermuda authorities were involved in successful convictions in five cases in the US, while two subjects were convicted of money laundering offences in the UK. In addition, three persons were charged with money laundering offences in the Caribbean as a result of cooperation from Bermuda authorities.“During the first half of 2011, two individuals were put before the courts on charges of attempting to pervert the course of justice, perjury, and conspiracy to defeat justice in relation to a cash seizure challenge, under section 50 of POCA.“Furthermore, there was “Furthermore, there was one confiscation order in excess of $1.4 million and one forfeiture order in excess of $750,000 made during this period.“Additionally during this period, two individuals were convicted of money laundering: with one defendant sentenced to five years imprisonment, and the other defendant to four months imprisonment.“During that investigation search warrants were executed, and for the first time in Bermuda, the new forfeiture provisions under the POCA were used to forfeit a large amount of cash and jewellery seized during that investigation.“A further four individuals, were charged and put before Bermuda's courts for a number of serious financial offences, including money laundering. Currently, there are approximately 10 defendants before Bermuda's courts for money laundering offences.“These successes certainly reaffirm the efficacy of the updated anti-money laundering provisions, the enhanced cooperation between agencies, and the skills of the teams involved.”Earlier in the House of Assembly, Mr Scott said that the moves to strengthen Bermuda's AML and ATF framework since 2007 had substantially addressed all of the recommendations made by a review team from the International Monetary Fund and Bermuda now had a high level of compliance with international requirements.Raising awareness of the obligations of companies and individuals under the AML regime is one of the roles of NAMLC. To further this aim, Mr Scott said he would be sending an advisory to the Island's financial sector regarding “risks relating to deficiencies in AML/ATF systems and controls in specified jurisdictions”.The Financial Action Task Force (FATF), the global AML and ATF standard setting body, was working with the private sector on amendments that include changes to beneficial ownership and customer due diligence requirements, he added.“This Government is committed to ensuring that Bermuda, as a premier financial centre, actively participates in this updating process and that its voice is heard on the global stage,” Mr Scott said.“To that end, NAMLC has been involved in the various FATF working group meetings and has distributed consultative documents highlighting the process and timelines for feedback to encourage industry participation in this critical project.”The NAMLC plans meetings with industry representatives during August. The consultation deadline is September 16.The NAMLC website has been updated as it aims to be the go-to source of information on matters relation to AML and anti-terrorist financing measures, complete with quarterly newsletters and ministerial statements.Useful website: www.namlc.bm