Delegates from Cayman, led by Premier André Ebanks, will be taking part in Financial Action Task Force meetings in France this week, where they will get to observe how the global anti-money laundering and counter-terrorist-financing watchdog evaluates jurisdictions.
Accompanying Ebanks, who is also minister for financial services and commerce, to the FATF plenary meetings at the Council of Europe in Strasbourg will be Attorney General Samuel Bulgin and representatives from the Cayman Islands Monetary Authority.
The meetings, on 12-13 June, come as Cayman prepares for a 2027 ‘mutual evaluation’ of its anti-money-laundering, countering financing of terrorism and counter-proliferation financing regime. The evaluation by the Caribbean Financial Action Task Force, which supports the FATF’s work in the region, is expected to begin about seven months prior to an on-site visit in Cayman in December 2027.
“The first mutual evaluation – for any country – in the FATF’s new round of assessments, under its revised methodology, will be discussed at this Plenary,” Ebanks said in a statement Tuesday.
“Given that our own assessment draws nearer, this is an exceptional opportunity to observe the evaluation feedback of our global peers, contribute directly as a guest member, and discern useful insights we can apply going forward.
“We recognise there is a lot of work ahead of us, and engaging with our peers and the FATF helps our efforts to remain in good stead.”
Cayman had been placed on an FATF grey list in February 2021 following a critical evaluation by the Caribbean Financial Action Task Force in 2019. It was removed from that list in 2023 after the FATF determined it had made “significant progress in improving its anti-money laundering, combatting the financing of terrorism regime”.
Guest member
Cayman is attending the plenary as a guest member. At a plenary last year, the FATF appointed the Cayman Islands as one of the first guest members, along with Senegal, under the new Regional Bodies’ Guest Initiative, which invites two to three guest jurisdictions from the FATF Global Network to attend plenaries for a period of one year and directly participate in meetings and working groups.
The initiative aims to incorporate views and regional perspectives from a broader range of countries, including those that are underrepresented at the FATF membership level.
“It is indeed an honour to lead Cayman to its third and final plenary under the FATF Regional Bodies Guest Initiative,” Ebanks said in the statement.
“These meetings are an opportunity to participate directly as a guest member in the discussions, express our views and share our regional experience.”
Tribute for Judiann Myles
The statement noted that during the plenary, a tribute to the late, former FATF Americas Joint Group co-chair and former head of the Cayman Islands Monetary Authority’s Anti-Money Laundering Division, Judiann Myles, is expected to take place, “which the Cayman delegation will have the honour to join”.
Myles, 47, was found dead inside a burning car on 3 April in Bodden Town. Police subsequently revealed that the car fire had been set deliberately, and stated on 14 May that they were awaiting forensic results to determine how she died. No further information on the police investigation has since been released.
Technical assistance exchange
The government statement on the plenary noted that at its conclusion, the Cayman delegation will remain in France to take part in a FATF Technical Assistance Peer Exchange meeting on 14 June. The premier has been invited to deliver remarks at this meeting regarding Cayman’s technical assistance framework.
“In line with the FATF’s inclusive approach to supporting countries across the Global Network of more than 200 countries, the meeting will focus on capacity building to demonstrate the impact of AML/CFT initiatives and ensure sustained support for these efforts around the world,” the statement continued.
Before returning to Cayman on 18 June, the premier will travel to London for meetings with key stakeholders and members of the UK Parliament on 16-17 June, including UK Minister of State for Europe, North America and Overseas Territories, Stephen Doughty, MP.
While Ebanks is off island until 18 June, the acting premier will be Gary Rutty, the acting deputy premier will be Rolston Anglin, and the acting minister for financial services and commerce will be Wayne Panton, the statement noted.
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