News

The Department of Commerce’s Head of Compliance & Enforcement will be providing a key update session at the upcoming AML seminar for the real estate industry says seminar organisers.

The AML Risk Management Seminar for realtors and developers will be held at the Grand Cayman Marriott on Monday March 21^st and will feature a refresher training session and hands on due diligence workshop as well as a key update from the DCI’s Head of Compliance & Enforcement Ms. Claudia Brady.

“The update segment by Ms. Brady will provide an important perspective on key findings directly relevant to the real estate industry as it will draw on the most up to date National Risk Assessment of the Cayman Islands,” Mr. Paul Byles, FTS Director said.

“The Cayman Islands updated its national risk assessment in 2021 and these updates provide each sector with new information regarding their risk exposure. The information helps staff and service providers working within the real estate sector to be more effective in addressing anti money laundering risks,” Ms. Brady said.

“These outreach efforts by the DCI are designed to ensure that regulated entities remain up to date on the latest developments impacting anti money laundering risk management,” she said.

The seminar will also feature a panel of experts to address questions from the audience on how to better manage anti money laundering risks in the real estate and development sector.

Mr Byles said the training session was also geared towards service providers working in real estate. “Attorneys and bankers handling real estate transactions regularly will also benefit from the training,” he said.

The seminar will be held at the Marriot on Monday 21^st March 2022, from 9:00 – 11:30am. Registration is now open at: www.ftscayman.com/events