Cayman Islands Releases New AML Guidance Prevention
The Cayman Islands Financial Reporting Authority has published three new guidance notes on money laundering prevention. The implementation comes following the recent completion of a national risk assessment that was aimed at evaluating the country’s terrorism financing measures.
The guidance addresses, respectively the following key issues:
- The identification of proliferation financing.
- the preparation and submission of high-quality suspicious activity reports.
- More details about financial sanctions.