CIMA extends deadline for submission of AML surveys Loop Cayman Islands

Black Immigrant Daily News

The content originally appeared on: Cayman Compass
Loop News

36 minutes ago

The Cayman Islands Monetary Authority (CIMA) is informing relevant entities registered with CIMA that the deadline to submit surveys to help CIMA assess money laundering, terrorist financing and proliferation of terrorist financing risks has been extended from October 7 to October 21, 2022.

The notice to complete these “AML surveys” is being sent to persons who provide the service of a registered office, anti-money laundering compliance officer, money laundering reporting officer, deputy money laundering reporting officer and those listed principal contacts with CIMA.

Upon receipt of the correspondence from CIMA, the relevant party should activate their account to complete the AML survey.

Once CIMA gathers the AML survey data, it is anticipated that CIMA will update its risk assessment of various sectors. This is expected to help CIMA to better understand money laundering, terrorist financing and proliferation of terrorist financing risks posed to relevant sectors. The exercise may also indicate what steps need to be taken to further strengthen the anti-money laundering and anti-terrorist financing regime in the Cayman Islands.

Should any member of the public have any questions regarding the completion of the AML surveys, they should email CIMA at AMLSurveys@cima.ky.

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