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(CNS): Minister André Ebanks departed for Europe this weekend, heading a local delegation in the battle to finally get the Cayman Islands removed from the FATF grey list at a meeting in Paris next week. If he succeeds, this jurisdiction will likely also be removed from the European Union AML List in October.
Ebank will attend the FATF Plenary between the 19 and 23 June in Paris.
Before that, the team will attend various EU meetings to discuss anti-money laundering, tax, beneficial ownership and other matters with EU stakeholders. Between 12 and 16 June, Minister Ebanks, accompanied by legal adviser Karen Stephen-Dalton and Gene DaCosta, the government’s financial services representative in the UK/EU and in Asia, will meet with dozens of people from a number of relevant organisations and institutions.
“The ministry’s last visit to the EU was in November 2022, when we addressed the EU Parliament’s FISC Committee,” Ebanks said in a press release about the two-week trip. “However, there have been a number of financial services-related developments since then for government locally and in EU Member States, and we are looking forward to engaging with our counterparts on these important matters.
“Engagements such as this are vital to the Cayman Islands’ ability to participate intelligently and effectively in global regulatory discussions and cooperation initiatives, as well as commercial developments,” he explained.
The government will update the public on the FATF Plenary and the EU visit when the delegation returns home. Premier Wayne Panton will act for Ebanks while he is away.
Then on 19 June, Attorney General Samuel Bulgin and Anti-Money Laundering Unit Director Francis Arana will join them at the final FATF plenary, where the Cayman delegation will present the case regarding how the Cayman Islands has tackled the outstanding issues here relating to the investigation and prosecution of those involved in money laundering.
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