The Ministry of Financial Services and Commerce tabled its 2025 report before Parliament last week. The report revealed how the jurisdiction is preparing for the Caribbean Financial Action Task Force evaluation in 2027.
“This Government is taking focused, decisive action to safeguard Cayman’s global standing and prepare rigorously for the 5th Round FATF assessment in 2027,” said Premier and Minister for Financial Services and Commerce André Ebanks.
As previously covered by the Compass, the 2025-2026 National Risk Assessment was launched to help Cayman prioritise what needs to be done to have a positive evaluation. Meanwhile the Office for Strategic Action on Illicit Finance was also set up in 2025, to co-ordinate Cayman’s efforts to fight money laundering and terrorist financing.
A mix of state entities
The report also shows how the government is using a wide range of institutions to help Cayman prepare for the evaluation.
The Department of Commerce and Investment undertook more than 100 hours of specialist training in 2025 to help staff in anti-money laundering and countering the financing of terrorism. The General Registry also carried out an analysis on the Beneficial Ownership Transparency Act.
Meanwhile the delegation to the 61st CFATF plenary in Barbados included officials from the Office for Strategic Action on Illicit Finance the Registrar of Companies, the Cayman Islands Monetary Authority, the Department of Commerce and Investment, Customs and Border Control, the Official Receiver’s Office, the FRA and the Office of the Director of Public Prosecutions.
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