Lucy Frew
Partner
Cayman Islands
- The AML Survey is CIMA's new anti-money laundering form
- It replaces the previous AML Inherent Risk, AML Risk Controls and Cash Flow Return forms
- CIMA-regulated offshore vehicles should take note of the deadlines
Key Takeaways:
In a notice on 19 August 2022 (the "Notice"), the Cayman Islands Monetary Authority (“CIMA”) advised financial service providers that it will soon be conducting one of its periodic anti-money laundering surveys.
CIMA has created a new single form, the AML Survey. This new form will combine the AML Inherent Risk, the AML Risk Controls and the Cash Flow Return forms. CIMA regulated entities in the sectors listed below should note the survey issue and due date applicable to their sector.
The AML Survey and related guidance notes will be available in advance of the below upcoming survey dates. For further details, please refer to the Notice.
| Sector |
Survey Issue Date |
Survey Due Date |
| Securities: Full, Restricted, and Registered Persons |
12 September 2022 |
7 October 2022 |
| Virtual Asset Service Providers |
12 September 2022 |
7 October 2022 |
| Insurance RFB Self Declaration: Class A, Class B, Class C, Agents, and Brokers |
19 September 2022 |
30 September 2022 |
| Fiduciary: Trust, Company Manager, Corporate Service Providers |
19 September 2022 |
14 October 2022 |
| Banking: Class A, Class B, Building Societies, Credit Union, Development Bank and Money Services Businesses |
26 September 2022 |
21 October 2022 |
| Investments: Mutual Fund Administrators |
26 September 2022 |
21 October 2022 |
CIMA issues the AML Survey to assist it in the exercise of its functions, including the collection of data in relation to prevention of money laundering, terrorist financing, proliferation financing and sanctions data in order to conduct sectoral risk assessments and other related research for the Cayman Islands.
Key Contacts
