AML Framework Updates: Key Changes for Offshore Brokers

Major offshore financial centers have aligned their AML frameworks with updated FATF recommendations, impacting compliance obligations for forex and securities brokers.

Several major offshore financial centers have updated their Anti-Money Laundering (AML) frameworks to align with the latest FATF recommendations, creating new compliance obligations for licensed forex and securities brokers.

Jurisdiction Updates

British Virgin Islands - New beneficial ownership register requirements - Enhanced CDD for high-risk jurisdictions - Updated suspicious activity reporting thresholds

Cayman Islands - Revised AML Regulations effective March 2026 - New virtual asset regime compliance requirements - Enhanced record-keeping obligations

Seychelles - Updated AML Act amendments - New requirements for PEP screening - Enhanced transaction monitoring obligations

Mauritius - Revised National AML/CFT Policy - New sectoral guidance for investment dealers - Enhanced requirements for correspondent relationships

Common Themes

Across jurisdictions, we observe: 1. Increased focus on beneficial ownership transparency 2. Enhanced requirements for transaction monitoring 3. Stricter PEP and sanctions screening 4. Greater emphasis on ongoing due diligence

Compliance Recommendations

We recommend all offshore licensees: - Conduct a gap analysis against new requirements - Update AML policies and procedures - Enhance staff training programs - Review technology solutions for compliance monitoring

Our Services

Zitadelle AG offers AML compliance advisory, policy development, and training services.