Threats revealed to Cayman’s AML regime

| 09/10/2015

(CNS Business): Government faces some serious challenges over the next 18 months to update the regulatory regime that protects the country’s financial service sector ahead of a task force inspection in March 2017. Francis Arana, head of the anti-money laundering unit in the attorney general’s chambers, who is coordinating the country’s National Risk Assessment (NRA) has revealed some serious deficiencies in the current laws and regulations, weakness in supervision and a lack of suitable sanctions which need to be addressed before the Financial Action Task Force begins its assessment. Read more on CNS Business

Category: Local News

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