Cayman Delegation Participates in 61st CFATF Plenary in Barbados

The Cayman Islands Government has reaffirmed its commitment to strong anti-money laundering, counter-terrorist financing, and counter-proliferation financing (AML/CTF/CPF) standards through its participation in the 61st Caribbean Financial Action Task Force (CFATF) Plenary and Working Group Meetings.

The Cayman Islands delegation consisted of officials from the Office for Strategic Action on Illicit Finance (OSAIF), the Registrar of Companies, Cayman Islands Monetary Authority, Department for Commerce & Investment, Cayman Islands Customs and Border Control, the Official Receiver’s Office, Financial Reporting Authority, and the Office of the Director of Public Prosecutions.

The training-focused plenary, held in Bridgetown, Barbados, from 24–28 November, provided member jurisdictions with capacity-building sessions and technical updates across key areas of AML/CFT/CPF implementation. Practical guidance was given on several priority issues, including:

• Asset recovery and the importance of parallel financial investigations;
• Oversight of non-profit organisations;
• The continued importance of formal and informal international co-operation in detecting and deterring financial crime; and
• New Financial Action Task Force (FATF) requirements embedding financial inclusion into AML/CTF/CPF frameworks

The Cayman Islands delegation welcomed the opportunity to further strengthen their collective capabilities and maintain Cayman's alignment with international standards.

A regional body under the FATF, the global AML/CTF/CPF standard setter, the CFATF supports Caribbean jurisdictions in strengthening their frameworks to detect, prevent, and deter financial crime. Active engagement in the CFATF plenaries ensures that the Cayman Islands maintains a leading position within the regional and global AML/CTF/CPF community.