NASSAU, Bahamas – The Bahamas and Canada signed an Asset Sharing Agreement, formalizing an arrangement to confiscate the proceeds of drug trafficking, money laundering and other criminal activities.
Bahamas Minister of Foreign Affairs the Hon Brent Symonette and His Excellency Denis Kingsley, High Commissioner for Canada to The Bahamas signed the Agreement for the respective governments during a ceremony at the Ministry of Foreign Affairs in the Goodman’s Bay Corporate Centre Thursday, March 12.
“This Agreement today with Canada is symbolic of the excellent relationship that exists between our two countries and we look forward to continued collaboration in these and other matters,” Mr. Symonette said.
In March 1990, both governments entered into the Mutual Legal Assistance in Criminal Matters Treaty. This treaty facilitates the gathering of evidence and intelligence in the investigation and prosecution of criminal offences. It also enhances the capabilities in the confiscation of the proceeds of crime.
“Mutual legal assistance treaties are concluded between two countries for the purpose of gathering and exchanging information in an effort to enforce criminal laws and confiscate the ill-gotten gains of criminal activity,” Mr. Symonette said.
“Notwithstanding the excellent cooperation that already exists between The Bahamas and Canada with regard to sharing such assets even in the absence of a formal agreement, in 2001 our governments commenced negotiations on an Asset Sharing Agreement to formalize the arrangement,” he said.
His Excellency Denis Kingsley, High Commissioner for Canada to The Bahamas, left, and Minister of Foreign Affairs the Hon Brent Symonette, right, sign an Asset Sharing Agreement
BIS Photo/Patrick Hanna
The aim is to improve the effectiveness of law enforcement in both countries in the investigation, prosecution and suppression of crime through the tracing, freezing, seizure and forfeiture or confiscation of assets related to crime and the creation of a framework for sharing the proceeds and disposition of such assets.
“Despite our limited resources, The Bahamas Government remains committed to fighting the war against drugs and other criminal activities and prosecuting those criminals that transcend international borders,” Mr. Symonette said. “Cooperation between our governments in joint criminal investigations such as narcotics trafficking and money laundering envisaged by the Mutual Legal Assistance Treaty, has been mutually beneficial to both our governments.”
His Excellency Denis Kingsley, High Commissioner for Canada to The Bahamas, left, and Minister of Foreign Affairs the Hon Brent Symonette, right, shake hands following the signing of an Asset Sharing Agreement
BIS Photo/Patrick Hanna
Pursuant to the 1988 United Nations Convention Against the Illicit Traffic in Narcotic Drugs and Psychotropic Substances, the Government of The Bahamas implemented the Proceeds of Crime Act 2000, where Sections 52 and 53 provide for the establishment and administration of the Confiscated Assets Fund.
“By utilising resources confiscated from convicted criminals specifically in the fight against crime and to assist in the prevention of crime, we can increase our efforts in terms of improved infrastructure and increased man power,” Mr. Symonette said.
He added that although The Bahamas recognises that confiscated assets are beneficial to improving its international crime fighting efforts through the improvement of infrastructure, manpower and other projects, confiscating the profits of criminal activities is also important as a deterrent to further illicit activities.
“In this regard, we are also pursuing negotiations with the United States to formalise existing cooperation into an Asset Sharing Agreement,” Mr. Symonette said.
High Commissioner Kingsley noted that The Bahamas and Canada have enjoyed a longstanding relationship that can be improved through such agreements.
“We continue to work constructively with the Bahamian Government in areas such as trade and finance, education and security,” he said.
The High Commissioner said he was pleased to have concluded the Asset Sharing Agreement, “which is another example of the close cooperation between our countries and the work that we are trying to do together which is trying to fight the drugs and crimes that are international.”
The Agreement also provides for the sharing of seized funds when they are confiscated or forfeited as a result of shared criminal investigations.
“The sharing of funds would encourage continued cooperation between our governments as we address the challenges posed in trans-national crimes,” High Commissioner Kingsley said.
