Online AML learning platform goes live

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).

The free, on-demand lessons are available for anyone in the financial services industry and in designated non-financial businesses and professions that are subject to anti-money laundering regulations, such as lawyers and realtors. Each module is followed by a short quiz.

The aim is to reinforce Cayman’s effective practice of the Financial Action Task Force global standards, by facilitating the knowledge of anti-money laundering at all levels in the industry.

Attorney General Samuel Bulgin said the modules allow industry to further enhance their compliance with Cayman’s framework based on FATF standards.

“I thank Government’s National Coordination Team that is assisting the Anti-Money Laundering Steering Group (AMLSG), and the competent authorities who supervise various sectors of our industry, for preparing and narrating these short videos,” Bulgin said in a press release. “I also thank Cayman Finance; and Government Information Services, which produced the bulk of the videos.”

Ben Meade, Cayman Finance’s public relations manager, added, “We are pleased to be able to have our eLearning platform used as a vehicle to disseminate this important information. Like Government, industry is committed to maintaining and enhancing the Cayman Islands’ position as a leading international financial centre.”

The modules provide an overview of financial crime, including government’s structure and the Caribbean Financial Action Task Force process; the risks in the Cayman Islands for lawyers, accountants, realtors, non-profit organisations, precious metals dealers and jewellers; and the obligations of financial services businesses.

“Industry members can choose the modules that best fit with their responsibilities, or complete them all,” said Justine Plenkiewicz, deputy national coordinator for the AMLSG, who coordinated the modules’ production.

“The aim of the online learning platform was to make information easily accessible to anyone who works with the Cayman Islands’ AML/CFT/CPF framework, whether they are based here or overseas.”

Industry members will be notified as more content is developed for the e-learning platform.

If you value our service, if you have turned to us in the past few days or weeks for verified, factual updates, if you have watched our live streaming of press conferences or sent an article to a friend... please consider a donation. Quality local journalism was at risk before the coronavirus crisis. It is now deeply threatened. Even a small amount can go a long way to sustaining our mission of informing the public. We need our readers’ financial support now more than ever.