Cayman Islands Releases New AML Guidance Prevention

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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.