FATF criticises ‘inadequate regulation and supervision’ of Cayman Island VASPs in latest assessment; says absent law is to blame for performance rating downgrade - AML Intelligence
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FATF criticises ‘inadequate regulation and supervision’ of Cayman Island VASPs in latest assessment; says absent law is to blame for performance rating downgrade

George Town, Cayman Islands. Photo: rh43

Laws around virtual asset service providers are proving a headache for the Cayman Islands.

Its performance in this area is the only component of its ‘enhanced follow up process’ to have been downgraded by the Financial Action Task Force in the global FinCrime watchdog’s latest report.

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