The Cayman Islands is eligible for removal from the FATF monitoring list
Following their diligent efforts to address deficiencies in their anti-money laundering and countering the financing of terrorism regimes, the Cayman Islands is now eligible to be removed from the Financial Action Task Force's (FATF) monitoring list, subject to successful completion of an onsite visit by the FATF. This positive development was announced by the FATF after its plenary session on 23 June 2023.
Representatives from the Cayman Islands attended the plenary to discuss the progress made on the remaining recommended actions in the FATF Action Plan.
As part of the standard delisting process, the Cayman Islands will undergo an onsite visit by FATF evaluators tentatively scheduled for late August or early September. During the visit, the assessors will meet with local stakeholders to evaluate the implementation and sustainability of the action plan.
Following the onsite visit, a report will be presented at the next FATF Plenary in October 2023, where a final decision will be made as to whether the Cayman Islands will be delisted.
The official press release can be found here.