The Cayman Islands has launched its 2025-26 National Risk Assessment (NRA), a two-year review in which they aim to strengthen the domicile’s defences against money laundering, terrorist financing, and proliferation financing. Additionally, the Ministry of Financial Services say the assessment will be an “integral part” of preparing the jurisdiction for the Caribbean Financial Action Task Force’s (CFATF) fifth mutual evaluation, which is scheduled for December 2027. The NRA is said to be designed for the identification of vulnerabilities and to guide risk-based policies for financial services and government oversight, and is an internationally recognised process. André Ebanks, Premier and Minister for Financial Services and Commerce, says the NRA is an “essential part” of the strategy to protect the islands’ financial system, in addition to its global reputation. He adds: “It also reflects Cayman’s continuing commitment to combating financial crime. By taking a rigorous, transparent, and inclusive approach, we are demonstrating our responsibility as a trusted global financial services centre of excellence and innovation.” The Office for Strategic Action on Illicit Finance (OSAIF) will, with participation from government agencies, regulators, and private-sector stakeholders, coordinate the review. The Director of OSAIF, Andrea Proctor, says the findings will provide an evidence base for shaping policy. “It brings together government, regulators, law enforcement partners, and industry to identify threats and vulnerabilities so that we can respond decisively,” she adds. “This is about ensuring both compliance and resilience, while showing international partners that Cayman takes its responsibilities seriously.” The risk assessment will continue throughout 2025, with both results and recommendations to be published once the work is complete.
