Cayman Islands AML Series : Guide to the Cayman Islands AML/CFT/CPF Regime and Update in 2024

#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 presentation training on the Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF) regime in the Cayman Islands is for providing a basic understanding of the regulatory framework, key offences, and compliance requirements administrated by Cayman Islands Monetary Authority (CIMA) with contents below: 

• Part 1: Key Legislation with an overview of the foundational AML/CFT laws and regulations administrated by CIMA
• Part 2: Key Concepts on understanding of Money Laundering and definition of Terrorist Financing and Proliferation Financing and Due Diligence 
• Part 3: Ongoing Monitoring requirements, Suspicious Activity Red Flags, Suspicious Activity Reporting Process, role and duties of Money Laundering Reporting Officer (MLRO), senior management responsibilities and staff training 
• Part 4: AML Business Risk Assessment Methodology, AML vulnerabilities of different financial sectors and their AML risks factors. Sanctions Compliance Framework and Enforcement 

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.