Topic: Financial Action Task Force
Accountancy watchdog association joins CFATF anti-money laundering course
The head of Cayman's accountants' body has taken part in the first Caribbean Financial Action Task Force course to help professionals tackle money laundering and terrorist financing.
Following the money: Cayman investigators chase dirty cash in real and virtual worlds
From diamonds and condos to crypto currency and digital tokens, the ways and means to move dirty cash around the global financial system are becoming more diverse and complex every day. For Cayman Islands law enforcement, adapting to those threats is an evolving challenge.
Cayman delegation to gain FATF insight at plenary in France
A Cayman delegation will observe how the Financial Action Task Force evaluates countries at plenary meetings in France this week.
Gaps in law to be closed to protect churches
Cayman law is to be changed to protect churches from the risk of money laundering and terrorist financing as part of a drive to...
Premier: Non-profits play critical role in Cayman’s economy
Premier André Ebanks stressed the importance of non-profit organisations in maintaining Cayman's mostly indirect taxation system.
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.
‘Grey list’ removal safeguards Cayman’s financial future
Coming off the ‘grey list’ was a critical step that will help safeguard the Cayman Islands government’s ability to fund the running of the jurisdiction and meet the needs of its people, according to Financial Services Minister André Ebanks.
Minister hails ‘tremendous achievement’ as Cayman comes off grey list
Financial Services Minister André Ebanks hailed a "tremendous achievement" for the Cayman Islands following the news Friday that the jurisdiction will be removed form the global Financial Action Task Force's grey list.
Financial Services Minister ‘hopeful’ of Cayman’s grey list removal
Financial Services Minister André Ebanks remains cautiously optimistic that Cayman's may soon be removed from the Financial Action Task Force grey list, saying that the jurisdiction has "put in the work" required.
Cayman one step closer to removal from money laundering ‘grey list’
A working group under the Financial Action Task Force on Friday completed an on-site visit to the Cayman Islands, which Financial Services Minister André Ebanks called a 'consequential step' toward removing the jurisdiction from the FATF grey list.
Transparency law could open up Cayman company ownership information
Companies operating in the Cayman Islands could soon be required to make details of their ‘beneficial ownership’ public under draft legislation published this week.
The...
Cayman remains on FATF grey list
The Cayman Islands remains on the Financial Action Task Force's grey list of 23 countries or jurisdictions that are subject to increased monitoring by the global anti-money laundering and terrorist financing watchdog.
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.
EU plans anti-money laundering authority, expands blacklist
The European Commission has published a six-point anti-money laundering action plan last week that includes the proposal for a new EU AML authority and better alignment of its third-country blacklist with the Financial Action Task Force list of non-cooperative countries and territories.
Government proposes framework to regulate crypto services
The Cayman Islands government has issued a proposed legislative framework for virtual asset service providers that seeks to align the crypto space with international anti-money laundering standards.
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.
Financial Action Task Force moves to regulate crypto exchanges
The Financial Action Task Force issued new guidelines on Friday, including a requirement that virtual asset service providers (VASPs), such as crypto exchanges, will have to pass on customer information when transferring funds between firms.
RCIPS unit to tackle money laundering
A new task force has been established to proactively investigate money laundering and terror financing in the Cayman Islands.
Cayman bracing for negative Financial Action Task Force review
A report on the Financial Action Task Force’s recent review of Cayman’s defenses against terrorist financing and money laundering will likely be released next month, and the results will not be positive, according to Premier Alden McLaughlin.
Anti-money laundering workshop held for jewelers, real estate companies
With the Financial Action Task Force set to evaluate Cayman’s safeguards against money laundering and terrorist financing in less than two months, the Department of Commerce and Investment held a workshop on Thursday to let designated non-financial businesses know their reporting obligations.
Nonprofits no longer subject to company fees under new law
As of Aug. 1, businesses that operate as charities can be categorized as nonprofit organizations, which will allow them to avoid substantial fees. The new Non-Profit Organisation Law, 2016, is part of Cayman’s preparations for the December 2017 evaluation of its regime countering money laundering and terrorist financing.
Ministry responds to Compass editorial
I would be grateful if you could publish this letter to clarify and correct two key points made in your editorial of March 8.
FATF calls on G-20 to commit to beneficial ownership standards
The Financial Action Task Force has called on the governments of the 20 largest economies to issue a public commitment to meet FATF standards on beneficial ownership. “The challenge today is not the lack of international standards to improve transparency. The challenge lies in the effective implementation of these measures,” the FATF said.
Anti-money laundering review Set for 2017
Cayman’s financial services industry, financial regulators and the territorial government are bracing for a mid-2017 review of anti-money laundering regimes.
Offshore banking continues to decline
The number of banks in the Cayman Islands dropped by 7 percent in 2015, compared to 2014.
