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CIMA Notice – AML Survey – Fiscal & Monetary Policy

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In a notice on 19 August 2022 (the
Notice“), the Cayman Islands Monetary
Authority (“CIMA”) advised financial
service providers that it will soon be conducting one of its
periodic anti-money laundering surveys. CIMA has created a new
single form, the AML Survey. This new form will combine the AML
Inherent Risk, the AML Risk Controls and the Cash Flow Return
forms. CIMA regulated entities in the sectors listed below should
note the survey issue and due date applicable to their sector.

The AML Survey and related guidance notes will be available in
advance of the below upcoming survey dates. For further details,
please refer to the Notice.

Sector Survey Issue Date Survey Due Date
Securities: Full, Restricted, and Registered Persons 12 September 2022 7 October 2022
Virtual Asset Service Providers 12 September 2022 7 October 2022
Insurance RFB Self Declaration: Class A, Class B, Class C,
Agents, and Brokers
19 September 2022 30 September 2022
Fiduciary: Trust, Company Manager, Corporate Service
19 September 2022 14 October 2022
Banking: Class A, Class B, Building Societies, Credit Union,
Development Bank and Money Services Businesses
26 September 2022 21 October 2022
Investments: Mutual Fund Administrators 26 September 2022 21 October 2022

 CIMA issues the AML Survey to assist it in the exercise of
its functions, including the collection of data in relation to
prevention of money laundering, terrorist financing, proliferation
financing and sanctions data in order to conduct sectoral risk
assessments and other related research for the Cayman Islands.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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