MIL-OSI Banking: AML/CFT – Country lists update

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Source: Isle of Man

The Authority wishes to draw your attention to some amendments to the country lists following the February 2021 FATF plenary. The country lists have been amended by the Cabinet Office and can be viewed on the DHA’s website.

In particular the Authority would like to highlight that the Cayman Islands have been removed from List C (Equivalent jurisdiction list) and placed on List B (Jurisdictions that may pose a higher risk) due to the FATF determining they had not made sufficient progress on their action plan.

It is requested that any licenceholders or registered persons with business relationships/customers connected to the Cayman Islands provide the Authority with details of those business relationships highlighting whether simplified measures have been used, and if so explaining which measures.  These details should be provided to aml@iomfsa.im by the end of March 2021.

Our response in relation to this matter is in line with other Crown Dependencies.

MIL OSI Global Banks