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”).

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. 

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