Update on Cayman Islands AML-CFT-PF

The following advisory is a round-up of recent amendments to the Cayman Islands anti-money laundering (“AML”), counter-terrorist financing (“CTF”), proliferation financing (“PF”) and financial sanctions requirements.

These recent amendments have been driven by developments in global standards, in particular those of the Financial Action Task Force (“FATF”), and the implementation of the analysis of the Caribbean FATF in its Mutual Evaluation Report. These amendments will not impact overall arrangements made by our clients to comply with the AML Regulations but bring clarity on a number of topics.

The new 2020 revision of the Anti-Money Laundering Regulations (“AML Regulations”) consolidates amendments during 2019 and was itself amended on 5 February 2020. The Guidance Notes on the Prevention and Detection of Money Laundering and Terrorist Financing originally issued on 13 December 2017 (“Guidance Notes”) have also been amended, most recently on 5 February 2020.


Click here to read the article

Lucy FrewPartnerT +1 345 814 4676lucy.frew@walkersglobal.com
Dorothy ScottPartnerT +1 345 914 4202dorothy.scott@walkersglobal.com
Anne DolanDirectorT +1 345 814 7620anne.dolan@walkersglobal.com
Steven ManningDirectorT +1 345 814 7612steven.manning@walkersglobal.com
Judith WatlerDirectorT +1 345 914 6330judith.watler@walkersglobal.com

Daniel WoodManaging PartnerT +971 4 363 7912daniel.wood@walkersglobal.com

Alice MolanPartnerT +852 2596 3425alice.molan@walkersglobal.com

Sara HallPartnerT +44 (0)20 7220 4975sara.hall@walkersglobal.com

Thomas GrangerPartnerT +65 6603 1694thomas.granger@walkersglobal.com