Cayman Islands Legislation
Proceeds of Crime (Amendment) Bill, 2026
Government bill, sponsored by the Ministry of Financial Services and Commerce
✓
Gazetted
Published in the Gazette
✓
Introduced
29 April 2026
First appeared on the order paper
3
Enacted
Act 16/2026
✓
In force
What this bill does
This bill updates the Cayman Islands' anti-money laundering rules by expanding who sits on the oversight committee and requiring government agencies to report annually on their efforts to investigate and prosecute money laundering and terrorist financing. It also allows these agencies to share information with each other to coordinate their work.
- The Financial Services Minister (or their designate) now chairs the Anti-Money Laundering Steering Group, and the Customs and Border Control Chief Officer joins as a member
- Government agencies that investigate or prosecute money laundering must submit annual performance reports showing prosecutions, convictions, assets seized, and other key statistics
- Agencies can now legally share information with each other and the oversight committee to coordinate anti-money laundering efforts
- The Steering Group and its members are protected from lawsuits unless they act in bad faith or with gross negligence
Who it affects: Government agencies investigating or prosecuting money laundering and terrorist financing, law enforcement, financial regulators, and the Cayman Islands government
This summary is AI-generated from the official document and may contain errors; it is not legal advice. Always consult the source text below.