The director of a publicly funded body that handles reports of suspicious activities related to suspected proceeds of crime and terrorism financing has left the organisation — but secrecy surrounds the reason for his departure.

Calon Hollis, a former police sergeant, has been director of the independent Financial Intelligence Agency since March 2023, after the death of his predecessor, Sinclair White. He had served as acting director since July 2022 and was previously head of analysis.

A source, who spoke on condition of anonymity, told The Royal Gazette that Mr Hollis left towards the end of last year and that his departure was linked to the agency’s involvement in the national anti-money-laundering risk assessment.

“The board of the FIA have not made any announcement and it’s been about two months,” the source said.

The Gazette called FIA chairman Greg Wojciechowski on Wednesday morning, but he declined to comment and referred questions to the Ministry of Justice.

A ministry spokesman said: “The Financial Intelligence Agency is independently operated by its own board, and personnel decisions would be in the remit of that board.

“Therefore, any questions should be directed to the FIA board.”

It is understood that Mr Wojciechowski, president and chief executive of the Bermuda Stock Exchange, then e-mailed board members asking them not to respond to media queries.

On Wednesday afternoon, a board spokeswoman confirmed that there had been a "change in leadership“ and that Christal Hanna, legal counsel of the FIA, had been appointed as interim director. No other information was shared.

The FIA was launched in November 2008 to process and evaluate suspicious activity reports, and pass on cases worthy of investigation to the Bermuda Police Service.

It also has the authority to share relevant information with other domestic and supervisory authorities and foreign financial intelligence units.

It is one of the key agencies involved in Bermuda’s anti-money-laundering and antiterrorist-financing regime and, along with other statutory bodies and the private sector, provides information for the risk assessments co-ordinated by the finance ministry’s National Anti-Money-Laundering Committee.

The FIA director is appointed by the agency’s board with the approval of the Attorney-General under the Financial Intelligence Agency Act 2007, and sits as a member of the National Anti-Corruption and Bribery Committee.

The FIA receives $1.6 million each year from the public purse. Mr Hollis wrote in the agency’s most recent annual report, for 2022-23, that it had received 969 suspicious activity/suspicious transaction reports, an 86 per increase in report filings from the previous reporting period, which was “primarily due to filings by the digital assets business sector”.

He wrote: “As it relates to disseminations made by the FIA, a total of 197 disclosures were made to both local and foreign authorities.

“Of this total, 88 per cent of these disclosures were sent to local competent authorities, ie, law enforcement agencies. Moreover, 86 per cent of the 197 disclosures were spontaneous disclosures prepared from reports received and analysis conducted by the FIA team.”

Mr Hollis, who also runs a driving school, said on Thursday that he was unable to comment.