CAYMAN ISLANDS REMOVED FROM FATF GREY LIST
The Financial Action Task Force (FATF) has announced that further to its plenary meeting held in Paris on between the 25th and the 27th October 2023, the Cayman Islands is no longer included on its grey list. This de-listing comes as a recognition that the Cayman Islands has a robust and effective regime for anti-money laundering and counter-terrorist financing.
The Cayman Islands demonstrated its commitment to international standards by satisfying all recommended actions and successfully completing an on-site inspection by the FATF earlier this year.
With this significant milestone achieved, there is an expectation that the removal from the FATF's Grey List will soon lead to the Cayman Islands' delisting from the EU's AML / CFT List. The Ministry of Financial Services & Commerce of the Cayman Islands remains actively engaged in direct discussions with EU officials. Their objective is to further enhance the jurisdiction's regulatory framework to facilitate the jurisdiction's removal from the EU's AML / CFT List.
This de-listing from the grey list shall open the way for further global funds and family offices selecting the Cayman Islands as a jurisdiction of choice.
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