On 15 November, FATF published a report from FATF-style regional body CFATF and said that the Cayman Islands has addressed most of the requirements of the revised Recommendation 15 (new technologies), and has been re-rated from Partially Compliant to Largely Compliant. As a result, no FATF Recommendations are now rated as NC/PC. However, the Cayman Islands will remain in enhanced follow-up on the basis that it had a low or moderate level of effectiveness for 7 or more of the 11 effectiveness outcomes (IO) – follow-up reports do not address effectiveness ratings. According to the enhanced follow-up process, Cayman Islands will continue to report back to the CFATF on progress to strengthen its implementation of AML/CFT measures. The original mutual evaluation report was in 2019.
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