Premier and Minister for Financial Services and Commerce André Ebanks gave the opening remarks at the workshop.
The Office for Strategic Action on Illicit Finance brought together regulators, financial-services professionals and government agencies for a three-day workshop to review money laundering, terrorist financing and proliferation financing risks as part of the Cayman Islands’ 2025–26 National Risk Assessment.
The sessions, held last week at Hotel Indigo, aimed to identify current vulnerabilities and inform the next phase of the NRA, a process the government says will guide risk-based policies and resource decisions across the public and private sectors. The assessment supports the jurisdiction’s 2022–25 national strategy and preparation for the Caribbean Financial Action Task Force’s fifth-round mutual evaluation planned for 2027, according to the release.
Premier and Minister for Financial Services and Commerce André Ebanks opened the workshop, calling the exercise key to “identify, assess, and truly understand our country’s specific risks,” which he said will help prioritise resources and “safeguard both our reputation and our economic stability.” Attorney General Samuel Bulgin delivered closing remarks, underscoring the government’s commitment to protecting the financial system.
OSAIF Director Andrea Proctor said the NRA is following a phased approach. After initial planning and information-gathering, officials will compile inherent risks, develop risk profiles and begin drafting the assessment report through the end of the year.
Looking ahead, OSAIF plans an on-island training exercise for public-sector agencies in early October with CFATF officials, focusing on the Financial Action Task Force’s revised standards and methodology, the office said.
