From: Ministry of Finance Marketing and Communications Unit

Tuesday, 25 September 2012

The Cayman Islands Ministry of Finance (Financial Services) advises that the Third Schedule of the Money Laundering Regulations (2010 Revision) has been amended to include India and the People’s Republic of China.

The Third Schedule of the Law specifies those countries that have laws and regulations in place considered to be equivalent to those of the Cayman Islands, with respect to the evidence of identity required from applicants for business. Any business incorporated in, or formed under, the laws of a country specified in the Third Schedule of these Regulations shall be capable of constituting the identification procedures deemed satisfactory by Cayman Islands law.

These amendments were approved by Cabinet and published in an Extraordinary Gazette Friday, September 20, 2012.