December 8, 2019

Estera expands AML services in the Cayman Islands

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The Anti Money Laundering (AML) service portfolio of Estera Law (Cayman), formerly U Law Limited, will be consolidated into Estera Trust (Cayman) Limited following the business affiliation relationship which was announced last month The expansion of AML services further extends Estera’s strategic capability in the Cayman Islands and adds AML compliance officer services, money laundering […]

Cayman fights misuse of our AML regime

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Government, regulators and the Cayman Islands private sector recently came together to better identify the risks of misusing legal persons and arrangements – such as companies, partnerships and trusts – as Cayman strengthens our fight against money laundering, terrorist financing and the financing of weapons of mass destruction. About 150 persons attended the Friday, 8 […]

Provision of virtual asset services now formally subject to Cayman’s AML regime

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By Matt Taber and Daniella Skotnicki From Harneys Under recent changes to the Cayman Islands Proceeds of Crime Law, the provision of virtual asset services is now formally recognised as “relevant financial business”. Any entity that carries out relevant financial business must ensure that it complies with the Proceeds of Crime Law and the Anti-Money […]

Pan-American Life Insurance Group strengthens customer trust with Enhanced Risk Management Capabilities from Fiserv

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Comprehensive platform streamlines AML compliance and risk management processes in multiple countriesJuly 15, 2019 08:30 AM Eastern Daylight Time BROOKFIELD, Wis.–(BUSINESS WIRE)–Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services throughout the Americas, is strengthening the […]

Cayman Islands: Walkers launches Compliance Services offering

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Grand Cayman, July 2018 Walkers is pleased to announce the launch of Walkers Compliance. Walkers Compliance complements Walkers’ legal, corporate and fiduciary services to deliver a one-stop-shop for clients looking to use the Cayman Islands jurisdiction for their business needs. While helping clients meet regulatory requirements, Walkers Compliance will deliver a best-in-class compliance offering, led […]

Cayman Islands: Anti-Money Laundering: It’s no longer if, but when you’ll be inspected

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Article by Bob Stanier (PwC) and Cora Schwendtke (PwC) Cayman Finance Source: Mondaq In December 2017, the Cayman Islands Government, with support from industry groups recently underwent a review of its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulatory regime by the Caribbean Financial Action Task-Force (CFATF), which will be followed by an International Monetary […]

Cayman Islands insists money laundering reporting cannot be delegated to third party

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From STEP Cayman Islands investment funds must, from 1 June, appoint natural persons as their anti-money laundering (AML) reporting officers, rather than delegating their AML functions to corporate bodies. New AML regulations came into force on 2 October 2017, making both regulated and unregulated investment entities, as well as insurance entities and finance vehicles, subject […]

Address of Alasdair Robertson on the occasion of the Opening of the Cayman Islands Grand Court on 17 January 2018 given on behalf of the Cayman Islands Law Society

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My Lord Chief Justice, Hon. Judges of the Grand Court, Hon. Chief Magistrate, Hon. Magistrates, Mr Attorney, Madam DPP, my colleagues at the Bar, our Special and Distinguished Guests, Ladies & Gentlemen If it may please my Lord I am very happy to provide this report on the activities of the Law Society. As has […]

Bitt reveals big plans for cross-Caribbean blockchain settlement network

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By Pete Rizzo From CoinDesk For Barbados-based blockchain startup Bitt, creating a Caribbean-wide settlement network is a challenge that will be fraught with legal, technical and social challenges. However, thanks to a new partnership with Netki, one hurdle may have just gotten easier. Announced today at Consensus 2017, Bitt revealed it will use identity tools […]

Money Laundering in Central America

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By Q24N From Q Costa Rica Q24N – The housing market, casinos, concert halls, and the livestock sector are all used to launder money in Central American countries. Excerpted from the report “International Narcotics Control Strategy Report, Volume II, Money Laundering and Financial Crimes” by the US State Department: Nicaragua Weak governmental institutions, deficiencies in […]