Summary
The Anti-Money Laundering Regulations (2020) ("AMLRs")
set out the anti-money laundering ("AML") and countering
of terrorist financing ("CFT") compliance obligations for
Cayman Islands entities carrying on 'relevant financial
business'.
There have been a number of changes to the AMLRs and the AML/CFT
Guidance Notes ("Guidance") over recent months for
purposes of implementing observations made by the Caribbean
Financial Action Task Force ("CFATF") in its Mutual
Evaluation Report of the Cayman Islands. The latest changes were
gazetted on 5 February 2020.
We discuss below some of the key practical changes and industry
consultation with the Cayman Islands Monetary Authority
("CIMA").
