Topic: AML
Cayman to be dropped from EU’s money-laundering risk list
The Cayman Islands will be removed on 7 Feb. from the European Union's list of nations with deficits in their anti-money laundering and countering the financing of terrorism regimes.
Cayman removed from UK anti-money-laundering risk list
Following its removal from the global Financial Action Task Force anti-money-laundering list in October, the UK has removed the Cayman Islands from its list of high risk jurisdictions and the European Union is in the process of doing so.
Law change to aid money laundering investigations
Planned legal changes aim to lay out in statute the basis upon which authorities may prosecute money laundering offences and seize the assets of criminals seeking to use the Cayman Islands financial system to hide their ill-gotten gains.
Legislative changes proposed to strengthen CIMA’s AML enforcement, information sharing
The Ministry of Financial Services has released seven bills proposing to strengthen the Cayman Islands Monetary Authority's (CIMA) powers to apply proportionate and dissuasive sanctions to all types of legal persons under its supervision.
Cayman updates FATF on last remaining AML issue
A Cayman Islands delegation has updated a Financial Action Task Force (FATF) review group on local money-laundering investigations and prosecutions, to demonstrate the jurisdiction's capability and capacity for fighting financial crimes.
Cayman financial investigators freeze US$200 million
The Cayman Islands Bureau of Financial Investigations has secured court orders freezing US$200 million as part of global anti-money laundering efforts.
Anti-money laundering: CIMA fines Western International $482,000
The Cayman Islands Monetary Authority has fined Western International Trust Company Limited $482,717 for breaches of the anti-money laundering regulations (AMLRs).
Regulation of crypto asset services enforced in phases
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 offers COVID-19, AML and risk management webinar
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.
Year in review: Cayman addresses anti-money laundering shortcomings
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.
Crown counsel receive FATF standards training
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...
