Grand Cayman, 23 October 2024 – At its latest Plenary earlier today, the Financial Action Task Force (FATF) announced that the Cayman Islands and Senegal are the first countries appointed as guest members under the new Regional Bodies’ Guest Initiative.

Created by the new FATF President, Ms Elisa de Anda Madrazo, the initiative will invite two to three guest jurisdictions from the FATF Global Network to attend plenaries for a period of one year and directly participate in meetings and working groups. The objective is to increase the voice of countries from regions that are underrepresented at the FATF membership level and enrich FATF policymaking and risk understanding through sharing regional perspectives.

“This is a profound moment for the Cayman Islands as we have been invited to participate in FATF proceedings at the behest of the new FATF President. For the Cayman Islands to have its own seat at the FATF table, and be recognised as a country capable of having a presence alongside the likes of G20 countries, speaks volumes of our current international standing. It also speaks volumes of the considerable steps taken by the FATF towards inclusivity and diversity. We express sincere gratitude to FATF President de Anda”, said the Deputy Premier, the Hon. André Ebanks MP, who is also the Minister of Financial Services and Commerce.

The Deputy Premier is part of a Cayman Islands Government contingent representing the jurisdiction at the latest FATFPlenary in Paris this week. He is joined by the Attorney General, the Hon. Samuel Bulgin; Head of the Anti-Money Laundering Unit within the Attorney General’s Chambers, Francis Arana; Cayman Islands Monetary Authority (CIMA) Managing Director, Cindy Scotland; Head of CIMA’s Anti-Money Laundering Division, Judiann Myles; and Director of the Regulatory Affairs Unit within the Ministry of Financial Services and Commerce, Andrea Proctor.