European Commission Updates AML/CTF List: Cayman Islands to be removed
05 Jan 2024
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On 12 December 2023, the European Commission published an amendment to Delegated Regulation (EU) 2016/1675 which will have the effect of removing the Cayman Islands from its high-risk third countries listing of those countries identified as having deficiencies in their anti-money laundering/counter-terrorist financing regimes (AML/CFT).
The Commission's decision to delist the Cayman Islands came after comprehensive evaluation of the country's action plans and confirms that the Cayman Islands has a robust and effective AML/CTF regime in place.
In addition, as of 5 December 2023, the UK Government officially removed the Cayman Islands from its list of high-risk third countries for AML/CTF and counter-proliferation financing purposes.
For more information on this regulatory change and its implications, you are invited to review the following resources:
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