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Cayman Islands Removed from the EU’s AML List

19 January 2024

The Cayman Islands' removal from the EU's list of jurisdictions with deficiencies in their AML/CFT (anti-money laundering and countering the financing of terrorism) regimes will become effective on 7 February.

Grand Cayman, 19 January 2024 – The Cayman Islands’ removal from the EU’s list of jurisdictions with deficiencies in their AML/CFT (anti-money laundering and countering the financing of terrorism) regimes will become effective on 7 February.

“The Cayman Islands Government fully understands the significance of this achievement, and what it means for our international reputation,” said the Deputy Premier and Minister for Financial Services, the Hon. André Ebanks.

“My Government colleagues and I are profoundly thankful for the dedication of the many civil servants, regulators and industry members who walked the talk, earning our regime this recognition as a sound place for business. And we reaffirm our commitment with each milestone we achieve.”

The EU’s Delegated Act states the European Commission’s assessment that, based on information including our removal from the Financial Action Task Force’s AML list, that the Cayman Islands has strengthened the effectiveness of our AML/CFT regime and addressed technical deficiencies to meet the FATF’s action plans. The EU also noted Jordan’s improved regime.

“It is therefore appropriate to delete the Cayman Islands and Jordan from the table in point I of the Annex to Delegated Regulation (EU) 2016/1675,” the Delegated Act states.

In addition to local stakeholders, the Deputy Premier thanked EU officials.

“Discussions between the EU and the Cayman Islands – on a range of financial services- related matters, including our delisting – have been incredibly useful in deepening our mutual understanding, and I particularly note the positive, open approach that increasingly characterises our relationship. Being removed from the EU’s AML list paves the way for further dialogue on the policy goals we pursue.”

For more information, please contact financialservices@caymangov.ky

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