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Industry Updates

Cayman Islands Anti-Money Laundering Surveys for Financial Service Providers

22 Sep 2022

The Cayman Islands Monetary Authority (the "Authority") is circulating its new AML surveys in accordance with its duties under the Monetary Authority Act (As Revised) to conduct sectoral money laundering ("ML") / terrorist financing ("TF") / proliferation financing ("PF") and sanctions risk assessments and to ensure a risk-based approach to anti-money laundering ("AML") / counter financing of terrorism ("CFT") supervision of regulated financial service providers ("FSPs") in the Cayman Islands. 


The AML surveys will assist the Authority in the exercise of its functions, including the collection of AML / CFT / CPF and sanctions data from FSPs.


FSPs in each regulated sector (other than mutual funds and private funds) are required to complete the AML survey specific to that sector within the time period stipulated in the table below.


Relevant Sector

Survey Issue Date

Survey Due Date

Securities: Full, Restricted, and Registered Persons

12 September 2022

7 October 2022

Virtual Asset Service Providers

12 September 2022

7 October 2022

Insurance RFB Self Declaration: Class A, Class B, Class C, Agents, and Brokers

19 September 2022

30 September 2022

Fiduciary: Trust, Company Manager, Corporate Service Providers

19 September 2022

14 October 2022

Banking: Class A, Class B, Building Societies, Credit Union, Development Bank and Money Services Businesses

26 September 2022

21 October 2022

Investments: Mutual Fund Administrators

26 September 2022

21 October 2022


The Authority has distributed the AML Surveys to the designated Anti-Money Laundering Compliance Officer ("AMLCO"), Money Laundering Reporting Officer ("MLRO"), registered office and "principal contacts" of all such regulated FSPs in accordance with the Authority's records.  The AML surveys can only be completed online for each FSP by a relevant recipient accessing the link contained in the Authority's email.  The majority of the questions are business-specific / factual.  Accordingly, the AML surveys need to be completed primarily either by, or with the input of, the appointed AMLCO for the FSP.


The Authority has additionally published guidance for completing the AML surveys.


If you have not received access to your FSP's AML survey, you should contact the Authority.


If you require additional help to complete these AML surveys, please contact a member of our Regulatory team.

Related Services

Regulatory & Financial Services Advisory 

Our global team of regulatory lawyers provides expert legal advice to BVI, Cayman Islands, Irish, Jersey and Luxembourg entities regarding AML and CTF compliance including development and assessment of AML / CTF and risk management systems, KYC and customer due diligence best practices, conduct of money laundering and fraud proceedings and provision of expert evidence on AML / CTF and regulatory obligations.