AML/CFT Overview

The Cayman Islands Monetary Authority (CIMA) plays a central role in the anti-money laundering and the countering the financing of terrorism (AML/CFT) regime and as a leading and competitive international financial centre, the Cayman Islands has established its regulatory framework based on relevant international standards of supervision and co-operation with both local and overseas regulatory authorities. 

CIMA is also a founding member of the Caribbean Financial Action Task Force (CFATF), a regional body of the Financial Action Task Force (FATF), which sets international standards to combat money laundering, the financing of terrorism and proliferation financing. The FATF has issued recommendations on preventing money laundering and combating terrorist financing and proliferation financing. In our efforts to strengthen Cayman's AML/CFT regime, CIMA remains committed to implementing these standards.

What is money laundering?

Money laundering is a financial crime in which the source of illegally acquired money or goods is hidden from law enforcement and financial regulators by generating the appearance of legitimacy for the illicit gains.

What is terrorist financing?

Terrorist financing involves the solicitation, collection, or provision of funds with the intention that they may be used to support terrorist acts or organisations.

What is proliferation financing?

Proliferation financing refers to the act of providing funds or financial services which are used, in whole or in part, for the manufacture, acquisition, possession, development, export, trans-shipment, brokering, transport, transfer, stockpiling or use of nuclear, chemical, or biological weapons and their means of delivery and related materials (including both technologies and dual use goods used for illegitimate purposes), in contravention of national laws or, where applicable, international obligations.

As a founding member of the CFATF, CIMA is subject to the CFATF’s ongoing mutual evaluation exercise to assess our national AML/CFT framework. The latest mutual evaluation report can be found here.