CAYMAN ISLANDS: LEGAL PRACTITIONERS LAW TO BE AMENDED FOR AML COMPLIANCE

On 16th October, the Cayman Compass reported that the Government had gazetted a Legal Practitioners (Amendment) Bill to make membership in the Legal Practitioners Association mandatory for AML purposes and about 80% of lawyers are currently members of the association.  An assessment of Cayman’s AML regime had included criticism that lawyers remained unsupervised and only had “a rudimentary understanding” of their money laundering and terrorism financing risks.

https://www.caymancompass.com/2019/10/16/legal-practitioners-law-to-be-amended-for-anti-money-laundering-compliance/

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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