Cayman Finance issued the following statement by CEO Jude Scott about the announcement by the Financial Action Task Force (FATF) that it was increasing its monitoring of the Cayman Islands:

“The financial services industry appreciates the efforts made by the Cayman Islands Government to successfully address 60 separate FATF’s recommended actions to strengthen the jurisdiction’s anti-money laundering legal and regulatory regime. Cayman Finance and its members will continue to collaborate with Government to support its work to address the few remaining issues so that the Cayman Islands can be removed from increased monitoring at the earliest possible opportunity.”