Cayman Islands Anti-Money Laundering Surveys for Financial Service Providers 2024

The Cayman Islands Monetary Authority ( "CIMA") is circulating its annual 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 assist CIMA 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 and in CIMA's reporting schedule.

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

CIMA has additionally published guidance for completing the AML surveys.