Cayman IslandsHM Treasury’s Office of Financial Sanctions Implementation issued a notice concerning the addition of seven individuals and six entities to the consolidated list pursuant to the Iran (Sanctions) Regulations 2023.
HM Treasury’s Office of Financial Sanctions Implementation published a notice concerning amendments to the sanctions entry for one entity designated pursuant to the Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019.
To Evade AML Rules, Exchange Blocked US Clients from Stating Their Locations
A global cryptocurrency exchange and trading platform registered in the Cayman Islands and Seychelles but secretly run from China, Singapore and elsewhere laundered hundreds of millions of dollars from a broad range of crimes since opening in 2017, U.S. authorities alleged Tuesday.
Weekly Roundup: Shutdown Looms Over FinCEN, US Regulators Fine South Korean Bank, and More
FinCEN scraps “unknown,” FATF praises Luxembourg, and more, in the weekly roundup.
The Cayman Islands Monetary Authority issued administrative fines totaling CI$116,680 on the George Town-based financial institution for breaching various requirements under the Anti-Money Laundering Regulations.
The Cayman Islands Monetary Authority issued an administrative fine of CI$299,050 against the George Town-based financial institution for breaching the requirements of the Anti-Money Laundering Regulations, including failing to identify ultimate beneficial ownership.
| Technical | Effectiveness |
|---|---|
| Compliant : 22 | High : 0 |
| Largely Compliant : 18 | Substantial : 0 |
| Partially Compliant : 0 | Moderate : 6 |
| Non-Compliant : 0 | Low : 5 |
The Cayman Islands' technical compliance was re-rated in a Oct. 20, 2021 follow-up report.
| Rank : 105/110 |
| Score : 7.64/10 |
| Rank : N/A |
| Score : N/A |
| Rank : 1/133 |
| Score : 76/100 |