FATF to give Cayman negative review: Government

Pedro Gonçalves
clock • 2 min read

The Financial Action Task Force's report on the Cayman's efforts to tackle terrorist financing and money laundering to be released next month will not be positive, the local government has warned. The Cayman Islands has recently further amended its anti-money laundering (AML) guidance, effectively broadening the scope of entities that are subject to the Cayman Islands' AML laws and regulations. However, the task force has spotted deficiencies in how Cayman's rules and regulations are being followed in practice. "It's not going to be a good report," premier McLaughlin told the local ne...

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