On 10th September, the Cayman News Service reported that the Government has contracted Jan Tibbling, the former chief public prosecutor at the Swedish Economic Crime Authority (SECA), to help the National Coordination Team steer its way through the Caribbean Financial Action Task Force (CFATF) follow-up process.  In its review earlier this year, CFATF found numerous weakness and vulnerabilities and the jurisdiction has until February to plug the gaps and avoid blacklisting.  It says that Tibbling was drafted in last month to help the newly-established Anti-Money Laundering Steering Group prepare for the first update later this month.  The National Coordination Team is working on a report to be delivered to the CFATF on 24th September which will detail the progress on the recommended actions and technical deficiencies outlined in March’s CFATF MER.  It is also said that Cayman is in the process of carrying out assessments of AML/CFT/PF risks in certain specific sectors, as recommended in the report, to align the regime here with areas of higher risk, with consultants Financial Transparency Advisors (FTA) involved.


This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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