Information for businesses

Cayman Islands business owners have a central role in fighting financial crime. When day-to-day business operations comply with local AML/CFT/CFP laws and regulations, our country becomes a safe place for legitimate business activities – and a highly risky place to attempt anything otherwise.

Knowing which Government agencies supervise business activities is therefore important. On this page, the “Who is my supervisor?” column lists all the agencies that supervise Cayman businesses.

Sanctions

Compliance with sanctions laws greatly helps maintain the integrity of our Islands’ financial services, commerce and non-profit organisations.

The Financial Reporting Authority (FRA), in the Portfolio of Legal Affairs, administers and coordinates the implementation of financial sanctions in the Cayman Islands. It also raises awareness of, and compliance with, financial sanctions.

The competent authority for financial sanctions in the Cayman Islands is the Governor.

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Carrying out activities

If you are carrying out activities for your profession, business or employment, and you suspect that funds are from criminal activity, you are obligated to file a Suspicious Activity Report (SAR) with the Financial Reporting Authority. If you are an employee of a financial institution or a designated non-financial business or profession (DNFBP), you also may report the matter to your Money Laundering Reporting Officer (MLRO).

Keep up-to-date

To keep pace with AML/CTF/CPF developments, persons at all levels in the financial services industry and DNFBPs can access free learning modules on Cayman Finance’s e-learning platform.

The modules help Cayman to maintain effective compliance with the FATF global standards. Each module is followed by a short quiz to solidify the learnings.

Provision of the AML/CTF/CPF modules on the e-learning platform is a shared project of the Cayman Islands Government and Cayman Finance.

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