Our conversation with the FRA on the updates to the Cayman Islands' Proceeds of Crime Act (POCA) brought together our Regulatory experts, Colm Dawson and Ian Mason, along with RJ Berry, OBE, Director of the Cayman Islands Financial Reporting Authority (FRA).

If fraud or misconduct is discovered, it can have debilitating effects on a company; on its profits, consumer confidence, increased costs including legal costs, and in severe cases its reputation and the cutting of its workforce.

A senior official from the United States Federal Bureau of Investigation (FBI) has commented on the positive role that jurisdictions like the Cayman Islands play in combatting financial crime.

A victim of fraud is described as being someone who is tricked into sending money to a fraudster who is posing as a genuine payee.

Eight new bills have been proposed that will increase the Cayman Islands Monetary Authority's (CIMA) and Financial Reporting Authority's (FRA) powers.

Amendments to the Cayman Islands Proceeds of Crime Act came into effect on 2 January 2025 and include revisions to the suspicious activity report (SAR) process to the Financial Reporting Authority (FRA).

The Cayman Islands remain fully committed to upholding the highest global standards on money laundering and terrorist financing.

The Cayman Islands has recently introduced two regulations under the Beneficial Ownership Regime which relate to: circumstances where persons with "legitimate interests" can apply for access to beneficial...

On 2 January 2025, certain amendments to the Proceeds of Crime Act (POCA) came into force[1] that impose new requirements on persons seeking to obtain a defence against the core money laundering offences under the POCA.

The primary law prohibiting money laundering in the Cayman Islands is the Proceeds of Crime Act (As Revised) (the POCA). The POCA defines money laundering...

The Cayman Islands is a leading international financial centre with a robust anti-money laundering regulatory structure. The Cayman Islands' anti-money laundering legislation has been carefully...

As an autonomous British Overseas Territory, the legal framework of the Cayman Islands shares much in common with England and Wales (as well as other common law jurisdictions across the Commonwealth).

What authorities can prosecute business crimes, and are there different enforcement authorities at the national and regional levels?