Cayman Islands:
The AML Compliance Officer In A World Of Heightened Risk
07 August 2019
Maples Group
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In a climate of heightened risk, alongside severe penalties and
enforcement actions, the appointment of the Anti-Money Laundering
Compliance Officer, with the right level of expertise and
institutional support, is of pivotal importance.
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Alongside severe penalties and enforcement actions for money
laundering, terrorist financing and sanctions regime infractions,
the role of the Anti-Money Laundering Compliance Officer
("AMLCO"), is becoming considerably more complex given
the potential for immeasurable reputational damage. Funds and their
fiduciaries should, therefore, be taking AML compliance extremely
seriously and understand how critical the appointment of an AMLCO
is.
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.
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