Jul 21 2008 Marcus Simpson
Bermuda's Government is introducing new measures to fight money laundering and terrorist finance. Senator Kim Wilson has presented the Financial Intelligence Agency Amendment Bill to the Atlantic island's Senate Chamber. It proposes to allow the dependency's justice ministry to oversee the board of directors of the financial intelligence agency, the country's financial intelligence unit. At the moment the FIU is administered by the Bermuda Police Service.
The bill proposes to give the people on the board statutory immunity from prosecution when carrying out their functions in accordance with the Act. This is part of a worrying – and largely unexplained – worldwide trend in Westminster-style jurisdictions to give public servants immunity from charges of misfeasance in a pubic office.
The Government wants the FIA to have a "limited" power to freeze funds and obtain information with a warrant being required. The Bill will, if enacted, become the first out of three new pieces of legislation in this area. The others are the Proceeds of Crime Amendment Bill and the Anti-Terrorism Amendment Bill.
