As a result of increasing anti-money laundering (AML) measures now in force around the globe, some jurisdictions require operations to have a dedicated Money Laundering Reporting Officer (MLRO) to drive the due diligence effort. The MLRO is a nominated officer who provides oversight for AML activities and acts as a point of contact for any related enquiries.
At Vistra, we can act as MLRO to operations around the globe. The Cayman Islands is one example of a jurisdiction where both regulated and unregulated investment entities, insurance entities and finance vehicles are now subject to AML regulations and must act accordingly.
Our seasoned team is well qualified to build and maintain AML and Combating Financing of Terrorism (CFT) processes and controls, and to keep the company’s board of directors up-to-speed on developments. We ensure regular audits of the AML/CFT programme, and maintain logs with respect to declined business, potentially exposed persons (PEPs) and information requests from competent authorities related to investigations, to which we always respond promptly.
But our due diligence work extends beyond the expertise of our teams. As part of our service to the wider corporate world, our Global AML platform brings together searches on individuals, as well as companies and the key decision-makers behind them, providing you with instant results on PEPs, sanctions and adverse media checks. So you can be sure your activities won't suddenly be subject to any unexpected, and undue, attention.
Regulatory Compliance Services
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