Combatting Financial Crime in the Cayman Islands

A 15 minute interactive course that explores the nature of financial crime, global AML/CFT standards, and practical mitigation tactics. Ideal for professionals needing foundational AML training in the Cayman Islands context.

15 minutes of content

Certificate

Cayman Islands

Description

This self-paced short course introduces financial services professionals to the foundational elements of financial crime, the international standards that shape AML/CFT measures, and the practical strategies used to detect and prevent financial crime. Designed specifically for professionals operating in or with relevance to the Cayman Islands, it supports annual AML/CFT training compliance.

What will you learn?

Define and understand the scope of financial crime, including its effects globally and locally.

Recognize the link between money laundering and broader financial crime.

Understand international standards like the FATF’s 40 Recommendations and how they apply in the Cayman Islands.

Identify the role of institutions like CIMA and the FRA in local AML enforcement.

Apply key AML tools including transaction monitoring, KYC, SARs, and internal policies.

Develop awareness of early detection strategies and how training and collaboration reduce risk.

Analyze real-world scenarios such as the HSBC 2012 scandal to understand institutional vulnerabilities and corrective responses.

Course Content

Understanding Financial Crime
- Definition, scope, and impact of financial crime
- Cayman Islands-specific risks and challenges
- Link between financial crime and money laundering
International Standards & Collaborative Efforts
- Overview of FATF, CFATF, and other global bodies
- How the Cayman Islands aligns with international standards
- Importance of cross-border collaboration and information sharing
Mitigation & Prevention Strategies
- Early detection tools (e.g., SARs, KYC, transaction monitoring)
- Importance of AML policies, internal controls, and staff training
- Use of technology and data analytics for crime detection
Course Recap and Quiz