January 2025

Lennox Paton Associates attend Bahamas Financial Services Board Tax Compliance & Risk Management Seminar

On January 23, 2025, Lennox Paton’s Financial Services Group Associates, Stanley Burnside and Lethea Carey attended the Bahamas Financial Services Board‘s “The Global Enforcement: Fortifying Tax Compliance & Enhancing Risk Management” Seminar. Our Associates gained vital insights into key areas such as financial crime compliance, risk management, and regulatory enforcement.

The intimate, day-long seminar covered six sessions focused on: 

• The Bahamas’ position on taxation and its importance to the jurisdiction
• De-Risking: Practical solutions to avoiding being de-risked by correspondent banks through the implementation of an effective risk management program
• The role of gen AI and cryptocurrency in 21st century fraud schemes
• The emphasis on individual liability for corporate crime
• Regulatory enforcement update: AML and OFAC/Sanctions enforcement actions and predictions that can be used to mitigate emerging risks
• Cross-Border tax crimes and tax evasion