Launch of LPA Risk Assessment Private Sector Consultation Survey (2025-10-17)

Summary

This is a General Industry Notice from CIMA announcing that it is circulating, on behalf of the Cayman Islands Ministry of Financial Services and Commerce and in collaboration with the IMF, a private sector consultation survey feeding into the Cayman Islands' national Legal Persons and Legal Arrangements (LPA) Money Laundering and Terrorist Financing Risk Assessment. The survey aligns with FATF Recommendations 24 and 25 and seeks input on vulnerabilities to ML/TF through legal persons and legal arrangements and on the effectiveness of current mitigating measures.

• Target audience: The survey is aimed primarily at senior AML/CFT compliance officers (or similar roles) within financial institutions, trust and company service providers (TCSPs), and law firms that deal with legal persons and legal arrangements.
• Confidentiality and use of responses: CIMA states that responses will be anonymous, confidential, and analysed only in aggregate, with results used to inform the national risk assessment and strengthen the jurisdiction's AML/CFT framework.
• Distribution and deadline: The survey link was distributed by the Authority on 17 October 2025 from LPA_Survey@cima.ky, with a submission deadline of 31 October 2025 at 5:00PM.

There is no indication of a formal legal mandate to respond, but CIMA describes participation as vital and requests timely completion.

Key obligations

• Senior AML/CFT compliance officers (or similar roles) at financial institutions, TCSPs, and law firms are requested to complete and submit the LPA risk assessment survey by the stated deadline.

Applies to

financial institutions, trust and company service providers (TCSPs), law firms

Deadlines

• 31 October 2025 at 5:00PM: Deadline for submission of responses to the LPA Risk Assessment private sector consultation survey
• 17 October 2025: Date the Authority distributed the survey link to relevant entities via LPA_Survey@cima.ky