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Money laundering, proliferation financing and terrorism financing pose risks to your business and personal reputation. Compliance with legislation and regulation is imperative to protect against these threats. The Cayman Islands impose strict obligations regarding the requirements around systems and controls to prevent money laundering, proliferation financing and terrorism financing. It’s crucial that each relevant entity adopt an overall anti-money laundering (AML) risk management framework to effectively mitigate these risks.
We understand the growing impact of AML compliance and regulation globally, and how it can directly affect your firm during the asset or deal selection and onboarding process. We can assist you in meeting these obligations according to jurisdictional regulations and industry best practices.
We stay up to date with the latest regulatory and enforcement trends, and our team of compliance professionals is here to address your queries and assist with any issues highlighted by prospective investors.
Development and integration of AML practices
By working closely with our clients, we can effectively assist with the development and integration of AML practices while keeping pace with the latest regulatory and enforcement trends.
- Risk-based approach
- Responsiveness to regulatory updates
- Assistance in the implementation of new compliance processes
- Key management information
Investment KYC reviews
Specialist knowledge, using a risk-based approach to complete reviews in an efficient and timely manner to meet tight deadlines.
Inbound KYC requests
Effective management of inbound Know Your Customer (KYC) requests from third parties engaged through deal activity.
Politically Exposed Person (PEP), sanctions and adverse media screening
We tailor the results of any searches to fit your screening requirements and risk appetite, reducing the number of false positive results.
AML document and infrastructure updates
This allows us to assist you with the management and mitigation of any risks identified in an efficient, compliant manner.
Training
We offer bespoke AML training (in-person or remote).
Our training can help integrate a strong compliance culture that stays up to date with the ever-changing financial landscape.
Board reporting
We provide periodic AML reports for entities undertaking relevant financial business to provide oversight and insight into the entity’s compliance framework and operations
- One dedicated team
- Unrivalled technical expertise
- Committed service delivery
With extensive experience in AML services, we specialise in working with a lean workforce, providing deal and legal teams with seamless support in a time-efficient manner.
Our team possesses enhanced industry experience and in-depth knowledge of peer group practice specifically in AML, allowing us to effectively assist you with your regulatory obligations in this area.
Contact us today to find out how we can help your business thrive.
AML FAQs
What is AML and why is it important?
Anti-money laundering (AML) encompasses the laws, regulations, and processes designed to combat financial crimes by preventing money laundering activities. AML measures are crucial because they safeguard your business and the broader financial sector against the threats posed by financial crimes, ensuring integrity and stability.
Who needs to comply?
Cayman Islands legislation requires that any entity undertaking relevant financial business comply with the acts, regulations and rules and adopt a framework to prevent and detect money laundering, proliferation financing and terrorist financing. Non-compliance can result in fines and penalties for the entity and incarceration for those responsible for the governance of the entity.
What are the key objectives of AML regulations?
The primary objectives of AML regulations are to help detect and report suspicious activities, including underlying offenses leading to money laundering, proliferation financing and terrorist financing, such as securities fraud and market manipulation. These regulations are essential for maintaining a transparent and secure financial environment.