Top Takeaways: ACAMS 3^rd Annual Caribbean Conference

Sandra Edun-Watler, Head of Compliance & Reporting Services for Mourant Governance Services in the Cayman Islands, spoke at the recent ACAMS 3rd Annual Virtual Caribbean Conference. This 2-day event offered an unrivalled opportunity to further knowledge and skills; gain a new perspective and to stay ahead of financial crime threats specific to the region. 

Below are the top takeaways from the panel titled 'How do you know if you have an effective AML program? And what if you don't?':

• • Ensure current systems are effective or if not, identify the gaps 
  • An independent audit function must be independent of the compliance team but not necessarily external
  • Be proactive in addressing issues in organisation 
  • Create a plan to deal with issues
  • Tone at the middle just as important as tone at the top
  • Ensure there is an understanding of the business of the organisation to identify relevant issues

Sandra provides AML Officer services to Cayman Islands entities which includes money laundering reporting officer and anti-money laundering compliance officer outsourced functions.  

If you have any questions or need assistance with any of your Cayman Islands reporting obligations feel free to contact Sandra.