The Royal Gazette of Bermuda has noted that:
Bermuda’s record in tackling money laundering and tightening compliance in the financial sector has been branded “appalling” by the head of Britain’s Committee of Public Accounts.
And Britain’s top civil servant in the Foreign and Commonwealth Office (FCO) in charge of Overseas Territories was accused of being “asleep on the job” by not enforcing higher standards.
Well noted. And true.
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