Cayman Islands AML Series : CIMA AML/CFT Activity Report (2023) and CIMA Inspections

#The Cayman Islands Monetary Authority (CIMA) has specific AML training requirements for fund directors and the Money Laundering Reporting Officer (MLRO). Fund directors and MLROs must undergo initial and ongoing AML training that covers relevant laws and best practices. Training should include role-specific content on governance, risk assessment, and reporting suspicious activities. Entities must maintain detailed records of training sessions, and assessments may be conducted to evaluate understanding of AML policies.#

This 1 hour online training provides an in-depth review of the AML/CFT Activity Report for 2023 issued by the Cayman Islands Monetary Authority (CIMA), along with key insights into CIMA’s inspection processes. 

The training is divided into three parts:  

1. CIMA AML/CFT Activity Report for 2023:

Analyzing regulatory updates, enforcement actions, and key trends in anti-money laundering (AML) and counter-financing of terrorism (CFT)

2. Enforcement and Different Financial Sector Supervision Focuses:

Exploring enforcement actions across various financial sectors and CIMA’s supervision priorities

3. CIMA Inspections: 

Understanding the scope and methodology of CIMA’s inspections to ensure compliance with Cayman Islands’ AML/CFT requirements 

By thoroughly studying this CIMA report, participants will gain valuable knowledge about CIMA’s regulatory approach, evolving trends, and enforcement measures, strengthening their understanding of AML/CFT compliance in the Cayman Islands. 

This training can be counted as relevant regulatory knowledge for SFC licensed corporations and their relevant SFC licensed persons managing Cayman Islands funds and this training is for them to fulfil AML training requirements under the Cayman Islands Anti-Money Laundering Regulations (AMLR).  

To complete the training, you are required to answer 10 questions in the Assessment Test at the end of the training and have 6 questions answered correctly.  Prior to taking the Assessment Test, you must watch the entire training video. Failure to do so may lead to cancellation of your Certificate of Completion.

**Please note that you are required to create an account with Thinkific, our Learning Management platform. Your Certificate of Completion will be issued using the name used to create the account. Therefore, please ensure that your official name is used when creating the account on Thinkific.**

For any queries, please email us at [email protected]. Thank you.