Tag: FATF grey list
Cayman Islands to get off EU black list next month
(CNS): The Cayman Islands will finally be removed from the European Union’s black list of jurisdictions with deficiencies in their AML/CFT (anti-money laundering and countering the financing of terrorism) regimes on 7 February, government officials have said. An amendment to the relevant EU regulation says that, based on Cayman’s removal from the Financial Action Task Force’s AML ‘grey […]
Cayman’s AML ‘delisting’ begins in Europe and UK
(CNS): Following the removal of the Cayman Islands from the Financial Action Task Force grey-list last month, the jurisdiction is now also being removed from other lists related to anti-money laundering, countering the financing of terrorism and counter-proliferation financing (AML/CFT/CPF) regime.
Cayman finally off FATF AML grey list
(CNS): The Cayman Islands has finally been removed from the Financial Action Task Force(FATF) anti-money laundering “grey list” after more than two years of trying. The jurisdiction was listed in February 2021 due to a failure to successfully prosecute or sanction those involved in financial crime. FATF announced the decision to de-list Cayman following the […]
Final FATF onsite visit key to Cayman’s ‘de-listing’
(CNS): Local officials remain hopeful that the Cayman Islands will be removed from the Financial Action Task Force’s grey list during the upcoming FATF Plenary in October after a final visit by FATF officials last week. The onsite visit by a delegation from the Americas Joint Group, a sub-working group of the FATF’s International Co-Operation […]
FATF visit to decide Cayman’s ‘grey’ list fate
(CNS): The Financial Action Task Force plenary session wrapped up in Paris on Friday, but the Cayman Islands is still on the FATF “grey” list, meaning that this jurisdiction’s measures to combat money laundering and terrorist financing (AML/CFT) remain under increased monitoring. Although Cayman has “substantially completed its action plan”, it will not be removed […]
Minister in Europe to tackle grey list issue
(CNS): Minister André Ebanks departed for Europe this weekend, heading a local delegation in the battle to finally get the Cayman Islands removed from the FATF grey list at a meeting in Paris next week. If he succeeds, this jurisdiction will likely also be removed from the European Union AML List in October.
Financial crime talking shop emerges from JMC
(CNS): Later this year, the British Virgin Islands will host the inaugural annual meeting between the United Kingdom and its overseas territories to discuss tackling illicit finance. This new “ministerial-level annual dialogue” emerged from this year’s UKOT Joint Ministerial Council meeting, held in London last week, and aims to defend financial systems against illicit actors, […]
FATF still concerned by Cayman’s failings on action plan
(CNS): The Financial Action Task Force has expressed concerns that the Cayman Islands is still failing to complete its action plan to address the “remaining strategic deficiencies” by demonstrating that all types of money laundering cases are being prosecuted in line with the jurisdiction’s risk profile. Officials here were hoping that the FATF would have announced […]
CIG makes another bid to get off FATF ‘grey list’
(CNS): A Cayman Islands Government delegation, led by Financial Services Minister André Ebanks and Attorney General Sam Bulgin, met recently in Miami with the Financial Action Task Force (FATF) review group on money-laundering investigations and prosecutions here to demonstrate the jurisdiction’s renewed capability and capacity for fighting financial crimes. The meeting was part of the process […]
Cayman chairs CFATF as it awaits de-listing
(CNS): The Cayman Islands is preparing to host the 55th Plenary and Working Group Meetings of the Caribbean Financial Action Task Force (CFATF) this weekend, during which Attorney General Sam Bulgin will assume the chair on behalf of Cayman, taking over from Bermuda. Over 200 overseas delegates will be attending the five-day event alongside 130 local […]
Cayman still on FATF grey list over AML issues
(CNS): The Cayman Islands remains on the Financial Action Task Force grey list while Nicaragua and Pakistan were removed following this week’s meeting in Paris to review the political commitment made by countries to meet the requirements needed to combat global financial crime. In a statement issued Friday, the FATF said that Cayman, which has […]
