The Cayman Islands was a special guest of the FATF. From left, Head of the Anti-Money Laundering Unit within the Attorney General's Chambers, Francis Arana; Director of the Regulatory Affairs Unit within the Ministry of Financial Services and Commerce, Andrea Proctor; Deputy Premier André Ebanks; FATF President, Elisa de Anda Madrazo; Attorney General Samuel Bulgin; FATF Executive Secretary Violaine Clerc; Cayman Islands Monetary Authority (CIMA) Managing Director Cindy Scotland; Head of CIMA's Anti-Money Laundering Division Judiann Myles; and FATF Vice President, Jeremy Weil.
The Financial Action Task Force (FATF) announced at its plenary that the Cayman Islands and Senegal are the first countries appointed as guest members under the new Regional Bodies’ Guest Initiative.
Created by the new FATF President, Elisa de Anda Madrazo, the initiative will invite two to three guest jurisdictions from the FATF Global Network to attend plenaries for a period of one year and directly participate in meetings and working groups.
“The Cayman Islands and Senegal will participate for one year, sharing valuable lessons and acting as lighthouses in their regions to promote the importance of fighting financial crime,” the FATF said.
The objective is to increase the voice of countries from regions that are underrepresented at the FATF membership level and enrich FATF policymaking and risk understanding through sharing regional perspectives.
“This is a profound moment for the Cayman Islands as we have been invited to participate in FATF proceedings at the behest of the new FATF President,” said the Deputy Premier André Ebanks. “For the Cayman Islands to have its own seat at the FATF table, and be recognised as a country capable of having a presence alongside the likes of G20 countries, speaks volumes of our current international standing. It also speaks volumes of the considerable steps taken by the FATF towards inclusivity and diversity. We express sincere gratitude to FATF President de Anda,” said Ebanks, who is also the Minister of Financial Services and Commerce.
The Deputy Premier was part of a Cayman Islands Government contingent representing the jurisdiction at the latest FATF Plenary in Paris last week. He was joined by Attorney General Samuel Bulgin; the Head of the Anti-Money Laundering Unit within the Attorney General’s Chambers Francis Arana; Cayman Islands Monetary Authority (CIMA) Managing Director Cindy Scotland; Head of CIMA’s Anti-Money Laundering Division Judiann Myles; and Director of the Regulatory Affairs Unit within the Ministry of Financial Services and Commerce, Andrea Proctor.
