Crown counsel receive FATF standards training
The Office of the Director of Public Prosecutions and the national coordination team spearheading Cayman’s work to enhance its anti-money laundering capabilities held a training session at the George Town Public Library on 23-24 Oct, featuring UK legal expert John Ringguth.
He addressed crown counsel on their role in relation to anti-money laundering and counter financing of terrorism.
“John’s wealth of knowledge assists the work being carried out by the various Government agencies,” Elisabeth Lees, national coordinator for the Anti-Money Laundering Steering Group, said in a press release. “His prior experience educating members of the international community on AML/CFT specifics will allow us to address targeted areas within our framework.
“In addition to Crown Counsel, John has met with members of the Financial Reporting Authority, the Financial Crimes Unit and the Joint Intelligence Unit of the Royal Cayman Islands Police Service, and the Cayman Islands Monetary Authority, all with a view to assisting the proactive investigation and prosecution of cases.”
The sessions are part of government’s work to address the Caribbean Financial Action Task Force’s March 2019 report on Cayman’s anti-money laundering regime. The critical report recommended specific actions Cayman should take to strengthen its anti-money laundering framework.
Cayman is under a one-year “observation period” by the FATF, ending in February 2020, to remedy any shortcomings.
“During the sessions with the prosecutors, we covered some important topics such as the role of prosecutors in relation to money laundering and terrorist financing, the prosecution of legal persons, third party laundering and the development process from intelligence through to investigations and finally prosecutions,” Ringguth said in the release.
“It was a very interactive session and these local prosecutors offered some useful insights into the work being done in the Cayman Islands and the more proactive approach being undertaken.”
“John’s wealth of knowledge assists the work being carried out by the various Government agencies,” Elisabeth Lees, national coordinator for the Anti-Money Laundering Steering Group, said in a press release. “His prior experience educating members of the international community on AML/CFT specifics will allow us to address targeted areas within our framework.
“In addition to Crown Counsel, John has met with members of the Financial Reporting Authority, the Financial Crimes Unit and the Joint Intelligence Unit of the Royal Cayman Islands Police Service, and the Cayman Islands Monetary Authority, all with a view to assisting the proactive investigation and prosecution of cases.”
The sessions are part of government’s work to address the Caribbean Financial Action Task Force’s March 2019 report on Cayman’s anti-money laundering regime. The critical report recommended specific actions Cayman should take to strengthen its anti-money laundering framework.
Cayman is under a one-year “observation period” by the FATF, ending in February 2020, to remedy any shortcomings.
“During the sessions with the prosecutors, we covered some important topics such as the role of prosecutors in relation to money laundering and terrorist financing, the prosecution of legal persons, third party laundering and the development process from intelligence through to investigations and finally prosecutions,” Ringguth said in the release.
“It was a very interactive session and these local prosecutors offered some useful insights into the work being done in the Cayman Islands and the more proactive approach being undertaken.”
