Grand Cayman, 3 September 2025 - The Cayman Islands hosted a special interactive lecture by Professor Shazeeda Ali on "The Potential Use and Misuse of Legal Persons and Legal Arrangements in Financial Crime" on Friday, 29 August.
The lecture, attended by local competent authorities, formed part of Cayman's Legal Persons and Arrangements Risk Assessment, being coordinated by the Office for Strategic Action on Illicit Finance (OSAIF). The assessment supports the jurisdiction's preparations for the 2027 Caribbean Financial Action Task Force mutual evaluation of our anti-money laundering, countering the financing of terrorism, and counter-proliferation financing framework.
Building operational understanding among competent authorities, including law enforcement and supervisory bodies, was a major focus of the session. It helped strengthen knowledge of how legal persons and arrangements can be misused in financial crime, and the importance of implementing appropriate safeguards.
As a global best practice, the Financial Action Task Force identifies the involvement of a wide spectrum of stakeholders – from regulators and law enforcement to civil society and academia – in addressing money laundering and terrorist financing risks linked to legal structures.
Professor Ali, a recognised expert in financial crime and financial services regulation, lectures in Caribbean Securities Regulation and Corporate Misconduct, among other courses. She has published extensively, including the books "Money Laundering Control in the Caribbean" and "Proceeds of Crime Act: Taking the Profit out of Crime."
"OSAIF is leading on the Legal Persons and Arrangements Risk Assessment, and building operational understanding among competent authorities is critical to that work," OSAIF Head of Regulatory Policy and Legislation, Duwayne Lawrence said. "This event supports our efforts to design proportionate safeguards against abuse, while also engaging law enforcement partners, supervisory authorities, and the wider community in advancing financial integrity."
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