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(CNS): Local officials remain hopeful that the Cayman Islands will be removed from the Financial Action Task Force’s grey list during the upcoming FATF Plenary in October after a final visit by FATF officials last week. The onsite visit by a delegation from the Americas Joint Group, a sub-working group of the FATF’s International Co-Operation Review Group (ICRG), was described as a significant milestone in the jurisdiction’s efforts to effectively and sustainably combat financial crime.
The Joint Group completed a comprehensive review of the final three recommended actions of the FATF’s action plan for Cayman. The financial services ministry said in a press release that the delegation engaged in discussions with Cayman Islands Government officials, regulatory authorities and private sector entities, gaining valuable insights into the country’s resolute AML/CFT framework, the rules that underpin it…
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