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Barbados is moving to strengthen its fight against financial crime with new legislation aimed at identifying the real owners of companies.
Attorney General Wilfred Abrahams says the Beneficial Ownership Transparency and Register Bill 2026 is essential to keeping Barbados compliant with international standards.
Speaking in Parliament during debate on the Bill, he said criminal organisations often hide behind layers of companies to disguise money obtained through illegal activities.
He stressed that maintaining compliance is vital as Barbados prepares for another Caribbean Financial Action Task Force evaluation next year.
