Guide
Outsourcing Cayman Islands AML/CFT compliance obligations
10 May 2022
It is common practice for a managed financial service provider, such as a Cayman Islands mutual fund or private fund, to outsource certain anti-money laundering and countering the financing of terrorism (AML/CFT) compliance functions to a service provider, such as a fund administrator. This guide provides a practical overview of the relevant steps and considerations which should be borne in mind when a financial service provider plans to outsource, or is reviewing existing outsourcing arrangements relating to the performance of an AML/CFT compliance function to a service provider.
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Mourant is a law firm-led, professional services business with over 60 years' experience in the financial services sector. We advise on the laws of the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Luxembourg and provide specialist entity management, governance, regulatory and consulting services.
