The Cayman Islands Monetary Authority (the "Authority") is circulating its annual AML surveys1  in accordance with its duties under the Monetary Authority Act (As Revised) to conduct sectoral money laundering ("ML") / terrorist financing ("TF") / proliferation financing ("PF") and sanctions risk assessments and to ensure a risk-based approach to anti-money laundering ("AML") / counter financing of terrorism ("CFT") supervision of regulated financial service providers ("FSPs") in the Cayman Islands.

The AML surveys assist the Authority in the exercise of its functions, including the collection of AML / CFT / CPF and sanctions data from FSPs.

FSPs in each regulated sector (other than mutual funds and private funds) are required to complete the AML survey specific to that sector within the time period stipulated in the table below.

The Authority has distributed the AML surveys to the designated AML Compliance Officer ("AMLCO"), ML Reporting Officer ("MLRO"), registered office and 'principal contacts' of all such regulated FSPs in accordance with the Authority's records. The AML surveys can only be completed online by a relevant recipient accessing the link contained in the Authority's email. The majority of the questions are business-specific and / or factual. Accordingly, the AML surveys need to be completed primarily by, or with the input of, the appointed AMLCO for the FSP.

Relevant Sector

Survey Issue Date

Survey Due Date

Securities: Full, Restricted, and Registered Persons

1 June 2023

31 July 2023

Virtual Asset Service Providers (completed)

1 March 2023

30 April 2023

Insurance RFB Self Declaration: Class A, Class B, Class C, Agents, and Brokers

1 August 2023

30 September 2023

Fiduciary: Trust, Company Manager, Corporate Service Providers

1 June 2023

31 July 2023

Banking: Class A, Class B, Building Societies, Credit Union, Development Bank and Money Services Businesses

1 May 2023

30 June 2023

Investments: Mutual Fund Administrators

1 June 2023

31 July 2023



The Authority has additionally published guidance2  for completing the AML surveys.

Footnotes

1. Access the AML survey at: https://amlsurvey.cimaconnect.com

2. https://www.cima.ky/regulatory-forms-guidance-notes 

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.