**FILE** A security guard lowers the Bahamian flag at Fort Charlotte on December 19, 2013 in Nassau, Bahamas. The fort is one of several that remain from the British colonial era. (BRENDAN SMIALOWSKI/AFP/Getty Images)

Bahamas Attorney General Carl Bethel said Friday that the government has a strategy to oppose the European Union’s decision to classify the Bahamas as a “high-risk” jurisdiction for financial crime.

He said the country is consulting with expert lawyers in Europe who are assisting with putting together a very focused strategy in response to this classification.

Speaking in the Senate, Bethel said the EU explained that the “high-risk” designation was because of strategic deficiencies regarding legal and institutional anti-money laundering and countering terrorist financing framework are generally what led to their decision. However, according to Bethel, the government resolved all of the EU’s listed grievances.

He spoke on the issue ahead of the Senate’s passing of amendments to the Commercial Entities Substance Requirement Act on Friday. The changes were passed in the lower chamber a day earlier.

WI Guest Author

This correspondent is a guest contributor to The Washington Informer.

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