Update on the Cayman Islands and the FATF’s List of Jurisdictions Under Increased Monitoring

The second Plenary of the Financial Action Task Force (“FATF”) under the German Presidency took place on 22, 24 and 25 February 2021. As part of the Plenary outcomes published on 25 February, the FATF recognised that the Cayman Islands has satisfied 60 of 63 actions to strengthen its anti-money laundering, countering terrorist financing and countering proliferation financing measures that were prescribed in the Mutual Evaluation Report published by the Caribbean FATF in March 2019. The Cayman Islands has been included on the FATF’s list of “jurisdictions under increased monitoring” (“Monitoring List”) pending completion of the final three actions. The inclusion of the Cayman Islands on the Monitoring List has no direct consequences for investors or clients using Cayman Islands structures.

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