(CNS): The Cayman Islands has launched its 2025-2026 National Risk Assessment, which is part of the goal to strengthen the country’s framework against money laundering, terrorist financing and proliferation financing, officials have said. Completion of the assessment is also an integral part of the preparation for the 5th round of the Caribbean Financial Action Task Force (CFATF) mutual evaluation set for December 2027. The risk assessment is an internationally recognised process that helps countries better understand and address financial crime risks. The findings are used to shape risk-based policies, guide regulatory and supervisory priorities to ensure Cayman continues to meet the highest global standards. “The National Risk Assessment is an essential part of our national strategy to protect the Cayman Islands’ financial system and reputation,” said Premier and Financial Services Minister André Ebanks. “It also reflects Cayman’s continuing commitment to combating financial crime. By taking a rigorous, transparent, and inclusive approach, we are demonstrating our responsibility as a trusted global financial services centre of excellence and innovation.” The 2025-2026 assessment is being coordinated by the Office for Strategic Action on Illicit Finance, with participation from government agencies, regulators and private sector stakeholders. Initial meetings were held this week to address the assessment methodology and the ongoing risk evaluations within certain sectors of financial services. The new office director, Andrea Proctor, said it gives officials the evidence needed to develop effective, risk-based policies. “It brings together government, regulators, law enforcement partners, and industry to identify threats and vulnerabilities so that we can respond decisively. This is about ensuring both compliance and resilience, while showing international partners that Cayman takes its responsibilities seriously,” she added. The process will continue through the rest of the year and into 2026, with findings and recommendations published upon completion. Updates will be provided to stakeholders throughout the process, officials added.