Financial Crime World

Cayman Islands Financial Professionals Required to Complete Compliance Training

In order to stay ahead of their anti-money laundering (AML) obligations, financial service providers in the Cayman Islands are required to ensure that all employees undergo mandatory training every year. The Cayman Islands Monetary Authority and the Financial Services Commission require that employees complete AML, Countering the Proliferation of Weapons of Mass Destruction and Terrorist Financing, and Sanctions training to avoid any enforceable penalties for non-compliance.

Mandatory Training Requirements

  • All financial service providers in the Cayman Islands must ensure that all employees undertake mandatory training every year.
  • The training includes AML, Countering the Proliferation of Weapons of Mass Destruction and Terrorist Financing, and Sanctions training.
  • Failure to comply with these requirements may result in enforceable penalties.

Harneys Compliance Solutions’ E-Training Course

Harneys Compliance Solutions has designed a comprehensive e-training course to meet this requirement. The course provides a thorough understanding of anti-money laundering regulations in the Cayman Islands and can be completed at your own pace.

Course Features

  • Each module includes a quiz.
  • A certificate of completion will be available for download upon completion of the course.
  • The course covers all aspects of AML, including:
    • Identification of customers and transactions
    • Reporting suspicious activity
    • Compliance with international sanctions
    • Overview of the legal framework governing AML in the Cayman Islands
    • Role of financial institutions in preventing money laundering and terrorist financing

Course Pricing and Discounts

  • The cost of the course is US$350 per person.
  • Discounts are available for groups of four or more people. For further information on packaging and costs, please email amlservices@harneys.com.

Additional Courses Offered by Harneys

In addition to AML training, Harneys also offers courses on International Sanctions and Directorship responsibilities.

International Sanctions Course

  • Provides an in-depth understanding of the complex and dynamic area of international sanctions.
  • Covers all aspects of international sanctions, including:
    • History
    • Purpose
    • Implementation

Directorship Course

The Directorship course provides a comprehensive overview of a director’s fiduciary duty owed to a BVI company. The course covers duties under BVI law and common law, as well as filing and record-keeping obligations for BVI companies.

For further information on the courses or to book your training, please email amlservices@harneys.com.