Cayman IslandsThe Financial Reporting Authority of Cayman Islands issued a notice to licensed entities and financial institutions concerning changes to the jurisdiction’s Russia sanctions regime, which targets actors involved in Russia’s illegal annexation of Crimea and Sevastopol, among other actions.
The Financial Reporting Authority of the Cayman Islands issued a financial sanctions notice concerning amendments to the sanctions entries for six individuals and one entity with regard to chemical weapons.
Cayman officials impose AML fine, U.K. gaming platform Boylesports Enterprise penalized for compliance lapses, and more, in the weekly roundup.
China fines BNP Paribas for AML lapses, Cayman revokes Hinduja Bank’s license amid compliance breaches, and more, in the midweek roundup.
Midweek Roundup: China Fines Lenders for AML Lapses, UAE Probes Habib Bank, and More
Cayman Islands Knocked for Financial Secrecy, Blacklisted as Tax Haven
The Cayman Islands Monetary Authority issued a CI$100,000 fine against the Grand Cayman, Cayman Islands-based financial institutions for violation of the anti-money laundering regulations pursuant to sections of 42A and 42B the Monetary Authority Law (2020 Revision).
The Cayman Islands Monetary Authority issued a decision revoking the full mutual fund administrators license of the George Town, Cayman Islands-based company based on its breach of the Anti-Money Laundering Regulations (2020 Revision) and other failures.
| Technical | Effectiveness |
|---|---|
| Compliant : 12 | High : 0 |
| Largely Compliant : 15 | Substantial : 0 |
| Partially Compliant : 13 | Moderate : 6 |
| Non-Compliant : 0 | Low : 5 |
| Rank : 6/141 |
| Score : 7.64/10 |
| Rank : N/A |
| Score : N/A |
| Rank : 1/133 |
| Score : 76/100 |