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Tropical Beach

Our Cayman Islands Packages

Our Cayman Islands Packages
 

All open-ended and close-ended Cayman Islands investment entities must appoint a natural person who is independent and competent as an AML Compliance Officer (“AMLCO”),  a Money Laundering Reporting Officer (“MLRO”) and a Deputy Money Laundering Reporting Officer (“DMLRO”).

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We offer funds a local, cost effective and compliance solution based in Hong Kong and based in Singapore that is responsive to your concerns during your Asian business day. 

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Our Cayman Islands Fund AML Services fall into two categories:

AMLCO-MLRO

  • Appointment of a natural person who is an expert on AML and CFT compliance as the AMLCO & MLRO
     

  • AML Services provides the Cayman Islands fund with:
     

    • CIMA-compliance AML Policy & Procedures

    • Annual risk assessment

    • Annual training session (in-person or virtual)
       

  • Monitor the work of fund administrators and service providers with respect to acceptance of funds from investors, the redemption of funds and sanctions checking in accordance with Cayman Islands laws
     

  • Sample checking of files of recently onboarded clients
     

  • Processing of internal STRs and SARs received from staff and other relevant parties
     

  • Reporting of STRs and SARs to the Cayman Islands Financial Reporting Authority (FRA) and/or the Joint Financial Intelligence Unit (JFIU)

AML Delegate

  • Perform AML for the Cayman Islands fund on the basis of either Gold or Silver service
     

  • AML Services will conduct ongoing monitoring – i.e. the optional extra for regular screening under Silver Services becomes obligatory
     

  • Provides AML Delegate letter to the AMLCO-MLRO

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