Cayman Islands AML training: Are you up to date?
Operators/Directors of Financial Service Providers (“FSPs”) (including Funds and SIBL-Registered Persons) operating in the Cayman Islands are expected to understand the Anti-Money Laundering Regulations (2020 Revision) (“AML Regulations”), and how the AML Regulations apply to the FSPs that they oversee, and are required to complete regular Cayman Islands AML training.
WHAT THE AML REGULATIONS SAY:
Part II, Section 5 (d) of the AML Regulations states that:
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THE GUIDANCE NOTES EXPAND THE AML REGULATIONS:
The Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation Financing in the Cayman Islands (2020 Revision) (“Guidance Notes”) add clarity to requirements stated in the AMLR. Part II, Section 10. E. of the Guidance Notes provides that:
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THE DMS SOLUTION
At DMS, we have developed an online, self-administered Cayman Islands AML training course that has been specifically designed for Operators/Directors of Cayman Islands Funds and SIBL-Registered Persons. This training course provides a comprehensive AML overview in an easy to follow format. It covers the following areas:
- Anti-Money Laundering;
- Combating of Terrorist Financing;
- Countering Proliferation Financing;
- Customer Due Diligence and Know Your Customer Requirements; and
- Customer and Transaction Screening.
The course consists of approximately 40 minutes of learning followed by an exam. An AML training certificate will be provided upon successful completion of the exam.
Should you have any questions regarding the training please reach out to your usual DMS contact or contact us below: