Anti-Money Laundering/Counter Terrorist Financing

Welcome to the RiskPass AML/CTF training session. In this training session we take a look at money laundering and terrorist financing and the effects these crimes can have on a financial service provider along with the legal responsibilities a financial service provider has in order to ensure that their institution is not utilized for money laundering and terrorist financing.

Annually billions of dollars are laundered through the global financial system. This has been made easier and faster with increased integration of the world’s financial system and the removal of barriers to the free movement of capital.

In order to support anti money laundering initiatives , locally and globally, staff members and directors of financial institutions need to be made aware of money laundering and terrorist financing and to be able to apply what they have learned in their work environment. In addition, regulated financial institutions in the Cayman Islands must be able to demonstrate and document that relevant policies and procedures for AML/CTF are in place and that appropriate staff are trained in a timely manner not only on internal procedures but also in overriding legislation and guidance.