Premier heads to Paris for FATF meeting

 (CNS): Premier André Ebanks, who is also the financial services minister, is making his first overseas trip as the country’s leader this week, leading a delegation to the Financial Action Task Force (FATF) Plenary in France today and tomorrow (12-13 June), according to a press release from the Ministry of Financial Services and Commerce.

Representatives from the Cayman Islands Monetary Authority are part of the contingent taking part in policy and compliance discussions facilitated by the FATF, the standard-setting body for global anti-money laundering, counter-financing of terrorism, and counter-proliferation financing (AML/CFT/CPF).

While they are in Paris, the delegation will attend the Guest Initiative, which aims to incorporate views and regional perspectives from a broader range of countries at the FATF to strengthen the global fight against illicit finance.

“It is indeed an honour to lead Cayman to its third and final Plenary under the FATF Regional Bodies Guest Initiative. These meetings are an opportunity to participate directly as a guest member in the discussions, express our views and share our regional experience,” Ebanks said.

The Cayman Islands is moving forward with preparations for the FATF’s 5th Round of mutual evaluation of its AML/CFT/CPF regime and is committed to taking the necessary measures to bolster the effectiveness of the framework. A mutual evaluation of Cayman’s regime by the Caribbean Financial Action Task Force, which supports the FATF’s work in the region, is expected to commence approximately seven months prior to an on-site visit in December 2027.

“The first mutual evaluation — for any country — in the FATF’s new round of assessments, under its revised methodology, will be discussed at this Plenary,” Ebanks explained. “Given that our own assessment draws nearer, this is an exceptional opportunity to observe the evaluation feedback of our global peers, contribute directly as a guest member, and discern useful insights we can apply going forward.

“We recognise there is a lot of work ahead of us, and engaging with our peers and the FATF helps our efforts to remain in good stead,” he added.

At the conclusion of the Plenary, the Cayman delegation will remain in France to participate in a FATF Technical Assistance Peer Exchange meeting on 14 June. The premier has been invited to deliver remarks at this meeting on Cayman’s technical assistance framework.

In line with the FATF’s inclusive approach to supporting countries across the Global Network of more than 200 countries, the meeting will focus on capacity building to demonstrate the impact of AML/CFT initiatives and ensure sustained support for these efforts around the world.

On 16 and 17 June, the premier will be in London for meetings with key stakeholders and members of the British Parliament, including UK Minister of State for Europe, North America and Overseas Territories, Stephen Doughty MP.

While he is away, Gary Rutty will be acting premier, supported by Rolston Anglin as deputy. Wayne Panton will hold the fort as the financial services minister. Ebanks will return to Cayman on 18 June.

Officials said that during the Plenary in France, a tribute to the late Judiann Myles, the FATF Americas Joint Group Co-Chair and former head of the Cayman Islands Monetary Authority’s AML Division, is expected to take place.

Myles’ body was discovered in a burned-out car in a remote part of Lookout Gardens in Bodden Town on 4 April. Since then, the police have remained tight-lipped about her death, and have still not confirmed whether or not they are treating the case as murder, stressing the need for forensic work to be completed before they reveal any details about the case.