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The Cayman Islands Bureau of Financial Investigations has secured court orders freezing US$200 million as part of global anti-money laundering efforts.
The Cayman Islands Monetary Authority has fined Western International Trust Company Limited $482,717 for breaches of the anti-money laundering regulations (AMLRs).
Cayman’s regulatory framework for service providers in the virtual asset space entered into force on 31 Oct. with the first of two phases.
FTS Cayman Islands is hosting a webinar on COVID-19, anti-money laundering and risk management, covering new FATF COVID-19 AML guidelines, cybersecurity risks and updates from the Financial Reporting Authority.
In March of 2019, the Caribbean Financial Action Task Force released a mutual evaluation report that found the Cayman Islands has major shortcomings in its ability to analyse and understand the risks from money laundering and terrorism financing.
The Office of the Director of Public Prosecutions and the national coordination team spearheading Cayman’s work to enhance its anti-money laundering capabilities held a...