Claritas is a niche Cayman Islands based compliance consulting firm focused on financial services regulatory compliance, including anti-money laundering, and counter-terrorist financing and counter-proliferation financing obligations, as well as prudential and market conduct regulation. Our consultants offer unparalleled expertise and can meet all your compliance needs, to allow you to focus your scarce resources on running your business.

We assist financial institutions and designated non-financial businesses and professionals in enhancing their compliance with the Anti-Money Laundering Regulations and guidance issued by their regulator. We have in depth knowledge of and experience with all issues relating to countering financial crime, including AML requirements and the implementation of financial sanctions.

The financial crime compliance services we offer include:

Conducting institutional AML/CFT/CPF risk assessments

Pursuant to the Anti-Money Laundering Regulations, every financial institution and designated non-financial business or entity in the Cayman Islands must undertake an assessment of the AML/CFT/CPF risks in its business and keep such assessment up to date. Our principals have extensive experience with the requirement to conduct this risk assessment and have frequently spoken at industry conferences on the risk-based approach. As such we are well placed to assist clients in making or updating their risk assessments.

Acting as Anti-Money Laundering Compliance Officer and Money Laundering Reporting Officer

Every financial institution and designated non-financial business or entity in the Cayman Islands must appoint an anti-money laundering compliance officer and an anti-money laundering reporting officer. Our principals accept AML officer appointments for all types of businesses in the Cayman Islands.

Review and revision of AML/CFT/CPF manuals, policies and procedures

We have an in depth understanding of the required AML/CFT policies and procedures, their interpretation and the origin of the requirements. We can review your manuals, policies and procedures to ensure they meet regulatory requirements and are suitable to the different needs of various types of businesses. We also offer bespoke AML audit services.

Preparing for on-site inspections and remediation of on-site inspection findings

Having worked closely with AML/CFT regulators in the Cayman Islands, the Claritas team is uniquely positioned to help regulated businesses prepare for on-site inspections conducted by Cayman Islands regulators to achieve a positive outcome in the on-site inspection. Claritas also assists regulated businesses to remediate the findings of regulators’ on-site inspections.

Training on all aspects of financial crime compliance in the Cayman Islands

In the past 2 years, the principals of Claritas have conducted over 50 presentation and training events to various audiences in the Cayman Islands relating to AML/CFT/CPF in the Cayman Islands. They can provide presentations, training and workshops to regulated entities across all areas of financial crime regulation.

Financial Services Regulatory Compliance

Claritas can assist financial institutions to meet their Cayman Islands regulatory obligations. Our consultants have intimate practical knowledge of the legislation in the Cayman Islands as well as Rules, Statements of Guidance and Regulatory Policies issued by the Cayman Islands Monetary Authority.

We can conduct compliance audits, advise on a regulatory compliance strategy, assist with drafting or reviewing manuals, policies and procedures, preparing for on-site inspections and assisting with on-site inspection remediation work. Our consultants have extensive experience in all regulated sectors, including insurance, funds, securities, trusts and corporate services providers and banking.

Legal advice and representation

Our law firm can also provide you with legal services when this is the most appropriate course ensuring a smooth transition from compliance advice to legal advice and representation.