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Regulatory Blog

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Cyprus strengthens AML/CFT framework: MONEYVAL report highlights progress
On 18 June 2025, MONEYVAL published its 4th Enhanced Follow-up Report, highlighting Cyprus' significant progress in combating money laundering and terrorist financing. The report acknowledges Cyprus' progress in addressing technical compliance deficiencies under the Financial Action Task Force standards.
FATF’s insights on sanctions evasion – A call to action on proliferation financing
On 20 June 2025, the Financial Action Task Force released a critical report highlighting vulnerabilities in the global financial system that enable the financing of weapons of mass destruction and sanctions evasion. Despite international efforts, only 16 per cent of countries demonstrate substantial effectiveness in implementing targeted financial sanctions under UN Security Council Resolutions.
Proposed amendments to Bermuda’s AML/ATF Laws: Industry feedback needed
On 11 July 2025, Bermuda’s National Anti-Money Laundering Committee advised that it is seeking feedback on proposed amendments to Bermuda’s Proceeds of Crime (AML/ATF Supervision & Enforcement) Act 1997, Proceeds of Crime Act 2008, and related regulations.
The European Commission updates the high-risk country list to bolster combatting of financial crime
On 10 June 2025, the European Commission revised its list of high-risk jurisdictions under the EU anti-money laundering and counter-terrorism financing framework. EU-regulated entities must adopt enhanced due diligence measures when engaging with the listed countries to safeguard the financial system of the EU.
Key updates from FATF's February 2025 announcements
On 21 February 2025, the Financial Action Task Force released significant updates regarding jurisdictions under increased monitoring and high-risk jurisdictions subject to a call for action. These updates highlight global efforts to improve anti-money laundering, combating the financing of terrorism, and counter-proliferation financing measures.
Bermuda's new advisory: Enhanced due diligence for high-risk jurisdictions
On 13 March 2025, the Bermuda Ministry of Justice issued AML-ATF Advisory 1/2025, highlighting the need for heightened vigilance when dealing with jurisdictions deemed high-risk for money laundering and terrorist financing. This advisory underscores the regulatory responsibility of AML/ATF regulated financial institutions and other relevant persons under the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008 to strengthen compliance measures in relation to high-risk countries.
Financial sanctions updates from Bermuda Monetary Authority
The Bermuda Monetary Authority has recently issued important updates regarding financial sanctions. These measures mandate that financial institutions evaluate their exposure to newly listed entities, freeze any relevant assets and report their actions to the Reporting Authority.
The importance of a crisis management framework: CIMA’s strategic commitment
On 10 January 2025, the Cayman Islands Monetary Authority published a circular reaffirming its dedication to enhancing the stability and resilience of the Cayman Islands’ financial sector. In today’s interconnected financial world, establishing a robust crisis management framework is essential for regulated entities, especially those of systemic importance.
Financial sanctions updates from Cayman Islands’ Monetary Authority
The Cayman Islands Monetary Authority recently issued important updates regarding financial sanctions. These measures mandate that financial institutions evaluate their exposure to newly listed entities, freeze any relevant assets, and report their actions to the Reporting Authority.
Updated CIMA and registry fees now in effect
Effective 1 January 2025, the Cayman Islands Monetary Authority and General Registry have implemented updated government fees for various services. Approved by Cayman Islands Parliament on 9 December 2024 after consultation with industry stakeholders, these changes include updates to fees that had remained unchanged for over a decade.
Cayman Islands annual fee deadlines and penalties update for 2024–2025
On 15 January 2025, the Cayman Islands Monetary Authority (CIMA) reminds firms of key fee deadlines and penalties for 2024 and 2025.
Financial sanctions updates from Bermuda’s Monetary Authority
The Bermuda Monetary Authority has recently issued important updates regarding financial sanctions. These measures mandate that financial institutions evaluate their exposure to newly listed entities, freeze any relevant assets, and report their actions to the Reporting Authority.
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