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ARTICLE · 05 MARCH 2018

Cayman Islands' Anti-Money Laundering Regime Updated

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The Cayman Islands has a reputation as a leading and competitive international financial centre and keeps this reputation by maintaining a regulatory framework based on the highest international standards.

Cayman IslandsWealth Management
Sailaja Alla
Sailaja Alla
Bryan Hunter
Bryan Hunter
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The Cayman Islands has a reputation as a leading and competitive international financial centre and keeps this reputation by maintaining a regulatory framework based on the highest international standards. It has demonstrated its commitment to these standards by updating a number of laws to implement the recommendations of the Financial Action Task Force (FATF) on the prevention of money laundering (anti- money laundering, or AML) and the countering of terrorist financing (CTF).

The updated AML/CTF regime includes the Proceeds of Crime Law, as amended, (2017 Revision) (POCL), the Anti-Money Laundering Regulations, 2017, as amended, (AML Regulations), the Terrorism Law (2017 Revision), as amended, and the Guidance Notes on the Prevention and Detection of Money Laundering and Terrorist Financing in the Cayman Islands dated December 2017 (Guidance Notes). The Guidance Notes provide practical guidelines that represent best practice for the development of AML/CTF

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