Online AML Learning Platform Now Available for Industry Members

The Cayman Islands Government, with support from Cayman Finance, has developed online learning modules relating to anti-money laundering, countering terrorist financing, and countering proliferation financing (AML/CTF/CPF).

These free, self-paced, on-demand lessons are available for persons in the financial services industry and in designated non-financial businesses and professions, such as lawyers and realtors. The objective is to reinforce Cayman’s effective practice of the FATF (Financial Action Task Force) global standards, by facilitating the cascading of knowledge of AML/CTF/CPF throughout all levels of industry.

"The modules allow industry to further enhance their compliance with Cayman’s framework, which is based on the FATF standards,” said the Attorney General, the Hon. Samuel Bulgin, QC.

Each module is followed by a short quiz to solidify the learnings.

“I thank Government’s National Coordination Team that is assisting the Anti-Money Laundering Steering Group (AMLSG), and the competent authorities who supervise various sectors of our industry, for preparing and narrating these short videos,” he said. “I also thank Cayman Finance; and Government Information Services, which produced the bulk of the videos.”

Added Ben Meade, Cayman Finance’s Communication and Public Relations Manager, “We are pleased to be able to have our eLearning platform used a vehicle to disseminate this important information. Like Government, industry is committed to maintaining and enhancing the Cayman Islands’ position as a leading international financial centre.”

The modules provide an overview of financial crime, including Government’s structure and CFATF (Caribbean Financial Action Task Force) process; risks in the Cayman Islands for lawyers, accountants, realtors, non-profit organisations, and dealers in precious metals and stones; and the obligations of financial services businesses.

“Industry members can choose the modules that best fit with their responsibilities, or complete them all,” said Justine Plenkiewicz, Deputy National Coordinator for the AMLSG, who coordinated the modules’ production.

“The aim of the online learning platform was to make information easily accessible to anyone who works with the Cayman Islands’ AML/CFT/CPF framework, whether they are based here or overseas.”

As more content is developed, industry members will be notified when new modules are added to Cayman Finance’s e-learning platform.