Increased penalties for breaches of Barbados’ money laundering legislation
Legal
Finance
October 21, 2026
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Businesses and professionals that fail to comply with certain requirements under Barbados’ money laundering legislation will now face increased financial penalties.
New amendments to the legislation provide for sanctions of up to $50,000, with daily accruals of $1,000.
Legal officer with the Compliance Unit, Janeille Evelyn, says the increased sanctions form part of measures to strengthen compliance with Barbados’ money laundering and financing of terrorism prevention framework.
Legal
Finance
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