September 28, 2020 | Press Releases
ML/TF/PF Risks and Typologies Webinar
The Anti-Money Laundering Unit, on the 3rd of July, held webinar that focused on money laundering, terrorist financing and proliferation risks and typologies via Zoom, for industry professionals in financial institutions and designated non-financial businesses and professions (DNFBPs).
September 15, 2020 | Press Releases
FATF Report on ML/TF Red Flag Indicators Associated with Virtual Assets
As of the 14th September 2020, the Financial Action Task Force published a report that focuses on money laundering and terrorist financing red flag indicators associated with virtual assets. This report, based on more than 100 case studies collected by members of the FATF Global Network, highlights the most important red flag indicators that could suggest criminal behaviour in relation to virtual assets. The report discusses key indicators to do with:
June 29, 2020 | Press Releases
Counter-Terrorism Committee Executive Directorate (CTED) Report
A report was done by the Counter-Terrorism Committee Executive Directorate (CTED) on measures taken by Member States to disrupt terrorism financing.
June 29, 2020 | Press Releases
Cayman Islands Final AML/CFT Assessment Postponed
The deadline for the Cayman Islands to enhance its AML/CFT framework was postponed by four months due to the worldwide disruptions caused by the COVID-19 pandemic, as announced by the President of the Financial Action Task Force (FATF) in a letter to the jurisdiction. The Cayman Islands has an additional four months to continue to address the areas identified in the jurisdiction’s Mutual Evaluation Report, published in March 2019.
February 20, 2020 | Press Releases
Cayman’s Business Community Hears about AML Risk Assessments
The business community in the Cayman Islands recently learned more about local risk factors for anti-money laundering, countering of terrorist financing and the countering of proliferation financing (AML/CTF/CPF), with the intention that they use the risk assessments to further strengthen and refine their AML/CTF policies and controls.
February 14, 2020 | Press Releases
Statement from the Premier
“The Cayman Islands can summarise in one word why financial crime must be fought in our three islands: Reputation.
February 5, 2020 | Press Releases
Online AML Learning Platform Now Available for Industry Members
The Cayman Islands Government, with support from Cayman Finance, has developed online learning modules relating to anti-money laundering, countering terrorist financing, and countering proliferation financing (AML/CTF/CPF).
January 20, 2020 | Press Releases
Cayman’s Supervisors Receive Specialised AML/CFT Training
Recognising the importance of effective regulatory supervision for financial services and other designated businesses and professions, the Cayman Islands Government recently organised a training session on assessing and monitoring AML/CFT (anti-money laundering and countering the financing of terrorism) compliance.
December 16, 2019 | Press Releases
Attorney General Leads Cayman’s CFATF Plenary Delegation
The Attorney General, the Hon. Samuel Bulgin, QC, led a 10-person delegation from the Cayman Islands to the Caribbean Financial Action Task Force (CFATF) plenary held the week 22 November in Antigua. During the plenary, Cayman presented our First Follow-Up Report (FFUR), which was submitted to the CFATF in September. The report outlined our progress to date in fulfilling the CFATF’s 63 recommended actions for our jurisdiction.
November 21, 2019 | Press Releases
Virtual Asset Services Must Comply with Cayman Laws
The Cayman Islands is committed to implementing global AML/CFT standards set out by the FATF, including recommendations relating to the regulation and supervision of virtual assets and the provision of virtual asset services. Government is currently taking steps to prepare a legislative framework to enable compliance with these international measures relating to virtual asset service providers.