Update to the Cayman Islands Proceeds of Crime Act – Changes to the suspicious activity reporting provisions
By EsqSocial Corporation 14/01/25
Amendments to the Cayman Islands Proceeds of Crime Act came into effect on 2 January 2025 and include revisions to the suspicious activity report (SAR) process to the Financial Reporting Authority (FRA). In addition to a SAR, a person must now also receive prior consent from the FRA in order to have a defence against money laundering (DAML)....
By: Walkers