Cayman's new anti-money laundering regulations come into effect May 1

Pedro Gonçalves
clock • 2 min read

The Cayman's Department of Commerce & Investment is introducing new board policies that will affect money-lending businesses as part of its new anti-money laundering regulation that comes into force on May 1. The department oversees designated non-financial businesses and professions, which include real estate agents and precious metal dealers. The policy changes affect money-lending businesses such as payday loan providers, who must now submit proof of their source of funds when making an application for a business licence. The applications of money-lending, real estate and precio...

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