Independent AML control review for Cayman domiciled entities
November 1, 2022
Cayman regulations require all Cayman domiciled entities carrying out relevant financial business to appoint a named AML Compliance Officer (AMLCO), a Money Laundering Reporting Officer (MLRO) and a Deputy MLRO (DMLRO).
AML/CFT independent audit
An Independent AML Control Review is commensurate with the entity’s nature, size, complexity, and risks identified during the risk assessment process.
An AML audit tests the current AML framework that is in place against the regime and identifies technical deficiencies. There are a number of advantages to conducting an AML audit, most notably that it acts as a mechanism to strengthen the entities’ AML programme.
How can Waystone help?
Waystone provides independent AML compliance specialists to perform an in-depth AML review. Contact us today to learn more about our full range of Cayman AML services.